Waiting for the punchline, page-3

Equityma, Michael Hill jewellers has operated since 1979 with FY16 revenues $551 m and NPAT $19.6 with more than 300 stores and continuing bricks and mortar expansion strategy.

You say "sales volumes are incorrectly reported". Better speak with PKA's auditor.

And you've valued PKA's quality assets at ZERO dollars. Interesting. I think the market reckons they're worth less than zero as the company's trading to discounted cash backing.