That was when the company was subject to different accounting...

That was when the company was subject to different accounting practices as the company was considered a listed investment company.

Obviously the ASX doesn't think that CHP is a LIC and has asked it to change its accounting practices back to the original way.

A company with a $3.72m market cap generated $2.7m worth of revenue!?! Unreal, those are big numbers for a company capped at the measly MC it has now.

The 'losses' under this accounting method relate to the company investing money into 20Four/MJLS/VAMP/SynDynamics/FSG - as none of them have reached the market yet, the money invested has not reached a point where it can be sold (listing date obviously) and thus it is written off as a loss.

A company can't make money if it isn't spending money and in this case CHP has been pumping $$ directly into its investments, I believe CHP's 20Four holding is worth more than the current market cap of CHP - go figure as that is an imminent listing with Australia wide media attention with a $2billion family backing it.