Ann: Variation to Loan Agreement, page-2

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I believe that NTU already had a pretty good idea that the $21 and a half million R&D claim for return was going to be under the microscope. Page 72 of 75 2018 Full Year Statutory Accounts. (key audit matter)

EOFY Brevet were owed just shy of $20 million. Now 6 months has past and I assume that the attractive annual interest rate of 14% that is accrued daily would not have been waived. I cant see much surplus being left over, of course that is assuming that the $21 and a half million R&D tax incentive calculations are in accordance with the R&D Tax incentive legislation.
One would be hoping that they were not found to have over claimed by $5 mill or so.
Don't have to look to far for ongoing concern$ with NTU atm.

Happy New Year Punters.

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