News: GXL Greencross Sees FY2018 Underlying EBITDA Between $97 Mln And $100 Mln, page-115

I am not an Accountant - but I googled Intangibles and Goodwill - ATO link is:
https://www.ato.gov.au/general/capi...ns/market-valuation-for-tax-purposes/?page=16

The Goodwill (which is my main concern, per my first post above) statement is:
"Goodwill

Tax law does not define 'goodwill'. However, the term is defined in a range of industry applications. AASB 3 Business combinations defines goodwill as:
Future economic benefits arising from assets that are not capable of being individually identified and separately recognised.
AASB 3 also describes how goodwill is measured (paragraph 51(b)):
…the excess of the cost of the business combination over the acquirer's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities…
Valuing goodwill

The valuation of goodwill is generally based on the calculation of a residual value. In basic terms, this approach requires the valuation of the net identifiable assets of the business (market-adjusted) and the valuation (market value) of the equity of the business.
A residual value may be derived by subtracting the value of the net identifiable assets of the business from the value of equity of the business. As a general rule, the calculation of a residual value will be the most appropriate method for deriving goodwill. However, other methods may be accepted if they are appropriate to the circumstances."

I would have thought that the things you listed, would be shown separately on the Balance Sheet? I think the most likely cause, are all the acquisitions the Co. has made.

Having thought more about his, I've stopped doing homework on GXL. I'm not comfortable investing in them, given that Goodwill is so subject to interpretation/manipulation. IMO a significant writedown of it is possible and whilst this's a non-cash item, it'll be an ugly News release and almost certainly impact the share price. If/when GXL meaningfully write this number down, I will re-consider GXL as an investment. As I said above, GXL has some good points - so it's not all bad news - but it's not for me at this time.