re: defabstar defabster,Its always difficult to analyse coy...

re: defabstar defabster,

Its always difficult to analyse coy accounts because
we are not privy to the actual books. I note however
that TOX have indicated that the book value of the
automated tank cleaning assets at 30.6.05 was
$900,000 (2004: $1,581,151). This may indicate that
the asset was not previously written off. (See note 15
"Lease and HP liabilities" 2005 accounts.)


Further it MAY be that the asset was sold at book
value at the time of sale. That book value MAY have
been abt. $500,000 which equates to the sale price. If
this speculation is somewhere near reality, then there
would not be any "profit" (amortisation recouped)
available to be reflected in the bottom line.

TOX's cash flow will of course benefit by the absence
of any further lease payments.

I hope you all have a prosperous 2006.

regds raico