Ann: Becoming a substantial holder-MRM.AX, page-18

Happy to be corrected but the first half was 66m EBITDA and the company expects 75-85m EBITDA for the full year.
That means 9-20 m EBITDA for this half doesn't it?
My fault being lazy with numbers. It does mean marginal cashflows for this half which I think may be representative of the next year.
Tangible assets can be written down as easily as intangibles. Their value is in future cashflows not as scrap steel.
They have stated it's difficult selling ships. There could be other options, worth looking into the balance sheet to glean what these may be.