CGA purchased from CTN, it's CAML funds management business as its new principal activity.
In this Report - Appendix 4E , it states that the report covers funds management activities ( revenues and costs ) from 29th September 2016 to end of June 2017.
Consequently, as also shown in the Appendix 4E to ASX in Oct 16, there are presumably no FM revenues or costs for the Sept 16 qtr in this Report.
The recent release by CTN of its full year's results tells us a different story. Those Directors assert that the sale transaction was completed by end of June 2016, with the sale to "the SPV vehicle", and that control passed then - not when wrap up payments were exchanged apparently on 29 Sept, as CGA has adopted.
So, we are that neither CGA nor CTN paid salaries for the staff, business costs, or new product costs for these 3 months?
Who did pay them? Did the 2 Auditors talk to each other?
CGA Price at posting:
$1.03 Sentiment: None Disclosure: Not Held
