ASX Announcement 12.12.2016. You also need to be careful with...

ASX Announcement 12.12.2016.

You also need to be careful with that "point in time" type of analysis as well because when a litigation finance business is growing their business your "point in time" analysis will penalise them. A better way to approach it is to look at every individual case associated IRR's. The prospectus gives that to you, and then every subsequent annual report.

If your going to look deeply into the profitability of the sector there is also a lot of individual case historical data over on the IMF thread posted a year or two ago when I did the exercise. I can assure you its a profitable sector and LCA's historical numbers are actually superior to competitors (not that I expect that in my investment thesis going forward).