I'm disappointed , they still have over 2 million of tax refunds on their balance sheet and writing down goodwill isn't great, I had a look at the notes and a lot of is related to loss of customer and computer software writedowns which they believe will impact future cashflow.
I guess there is some positives such as operating cashflow of over 8 million and over 2 million in tax refund along with copyright costs which appear to be a positive but the balance sheet is looking a little bit stretched and because of contingent liabilities they had to pay this meant debt didn't get reduced much.
I think we may may see a slight decline in share price today not good.
ISD Price at posting:
32.5¢ Sentiment: Hold Disclosure: Held