Ann: POSCO Transaction Complete, page-327

I just am reading that.
The thing is.. cash is king. Its no use to us offset at some time in the future.

Example look at VAH, made a huge loss on paper. Had tax credits. Worked out they didn’t have a snowballs chance of actually realising those tax credits, had to write them off. Moral of the story, don’t buy into an airline.

We have to actually be making a profit first to access that $30 odd mil USD in future tax credits..
It does appear that the sale of SDV was the only reason why we seemed to have made a profit.


$190m USD doesn’t have the same ring to it as $280m USD does it?

And FULL CONTINUOUS disclosure is expected, not half baked selective intermittent disclosure...