Yep, my point about Ronal exactly. Why would they invest so...

Yep, my point about Ronal exactly. Why would they invest so heavily in CBR unless they saw them as a threat? Yes there are carried forward losses. Good, less tax when they start making a profit. And of course yes they are not making a profit yet. And won't be till next year in fact. This is a start up, that's generally how it goes. You invest in the future and the potential, not the past. If you want something that's generating money now then invest in the banks. The biggest opportunities in the share market are the small caps and startups, but you need patience, research and vision for that.