Ann: Trading Halt, page-3

hardly made any money in first half

big loss was from the writedown of the company owned sales segment, ie the existing office where the big agents who sold their shares and left, (previously discussed) and of course the other office it bought with money raised in the float, again overvalued and overpaid at the time (discussed) Now written down, But lets not forget, the prospectus detailed Mcgrath was not performing, it bought smorgans casue it needed revenue (hence the growth as it came on the book)

Of course they will now say its a non cash writedown, that because they raised the money from investors in a previous period and paid cash and shares to buy existing franchises in that previous period which following an imparement is basically saying, they paid too much

Now sussssspended whilst it takes Mcgrath a few more days to respond to resent media speculation....., directors gone - good grief

Agents basically had their debts paid off and with all the splits made some very nice money.

As for the broker that did the deal with their clients, lucky they sat their with big price forecasts for ages saying people didn't understand, lol,,,,,,,,now they will just say its the arket, it changed, McGrath changed.......wonder what their price target will be now.

So new management?, expect high cash salaries and even more shares issued to retain existing staff and attract new believers