Ann: Clarification of market announcement, page-13

Doing some quick math... if revenue dropped 50% in fy2019 vs prior year... they would make 32m revenue

They announced 22m rough decrease in expenses. So assuming last year expenses minus 22m... 46 - 22...expenses will be 24m expenses.

32 - 24m = 8m EBITDA 

They will probably factor in another 2m loss in goodwill so likely pay tax on 6m of profit. 

2m tax... 6m retained profits... 18m cash balance take it up another 6m.

Total cash 24m ... plenty of time to work out a game plan and things to settle with royal commission   

Imo dyor. 

Interested in others thoughts on these calculations