Few people don’t know how to read reports by the looks of it /...

Few people don’t know how to read reports by the looks of it / jumping to conclusions

More than half of that loss is attributed to the divestment of there FantasySports investment. If you go back through the original announcements when this was first put to market, the deal consisted of:

$4m share swap of COL shares
$1m cash
THROUGH THE CHAPMANS SUBSIDIARY!!

The company obviously didn’t think the project was progressing, hence exiting it, and in return receiving/giving out:

$500,000 cash
An increase of 16% in there SynDynamics holding, increasing there total holding to 80%
They gave shares back in COL @ $1 each (This is the CHP subsidiary.. unlisted at this stage..)

Work out yourself what the real damage done is on that front, but my back of the envelope calculations tell me it isn’t as bad as the underlying figure that was put out once everything is taken into consideration

Companies don’t build themselves, you have to spend $$ to make $$, the other assets they have are 20Four (listing at $20m valuation) & SynDynamics (looking at firing up a plant / early day investment still)
I daresay a lot of the loss/impairments were related to the expenditure on building these companies up, PLUS the ‘loss’ on FantasySports.

It’s up to you as a shareholder to decide whether you are here for what the company has going for it (20Four / SynDynamics / MJLS / Securrency / RNL holding / RFN holding + future endeavours) or whether you let the loss/impairment on assets that have yet to list affect/cloud your judgement.