shocking

Reading from last month's investor presentation, it contains the gem: "Flexible and resilient business model". Are you kidding!!!!! You're saying the business has hit a brick wall within the space of 3wks? Where's the forward planning, weekly discussions with clients? Contingency planning?

The 2H forecasts are absolutely woeful. We can expect $313m revs, $6.7m ebitda, $2.5m npata. Yes, that's $2.5m npata!!!!! Just ahead of breakeven.

If we annualise these run-rates, we get $13m ebitda and $5m npata!!!!!! Plus the business has $63.4m of net debt, including the deferred acquisition consideration. Also net tangible assets are deeply negative.

Unbelievable!!!