Madamswer, Awesome company, Awesome Manangement! Full year...

Madamswer,
Awesome company, Awesome Manangement! Full year accounts are as clever as an ALP Budget! The question is what is their real business Dentistry or Share Sales. The new directors history may give you a hint!

1. Why do you think 1300smiles sold the awesome Warana and Tweed Heads practices? Did these asset sales appear in this years profits? This is a new string in the companies bow- Dealing in Dental Practices--Awesome........or are they offloading underperfomers? Original Dentists left maybe? Where have I heard that before?
2. What an awesome idea are the vouchers. Would I be correct in assuming that a voucher sale would automatically go into the profit side of the P & L even though the work has not yet been performed and in fact the money is yet to be paid off by the patients. Who is holding this risk? The voucher is essentially a contract for 1300smiles to perform the work. When the work is performed a percentage of the fee will have to be paid to the Dentist. How much of this years awesome profit is due to voucher sales for work which is yet to be performed at a 10% plus discount for patients in the next year? Could the company possibly be bringing forward profits from the next year? If you were a patient around June needing complex work you'd would buy a voucher wouldn't you. Its a 10% discount then you come back and get the work done in July/August. I don't have the time to go over the company accounts given I am not invested. Has this been accounted for with a corresponding liability. You are right the management are sharp!

3. Interesting how the KMP person seems to resign just prior to the 30 June. This is the third one since I have been following. Was that his shares that sold on the 18th just after the accounts were released? He had a $600k share loan to repay! Could this be a real sign of performance targets not met?--- They fall on their sword and the company has to pull yet another rabbit/(voucher) out of the hat?


cheers M8