Acqiurer or Target, page-3

Bought a handful of these a while back- but tell me why the big payout ratio?

Wouldn't they be better getting debt down a bit more -its not overly comfortable at about 4 times net profit-they are flagging growing their debt more also with the $20m facility-and current assets and current liabilities are about equal -no surplus there

ebitda of $5m looks ok against $13m I guess -a matter of fact that looks comfortable

but tell me -why is depreciation so low -and no amortisation of goodwill??