Concept stock orphan, page-79

The accounts around allocated capital are very rubbery and it seems Westfield has done everything they can to maximise the accounting loss - Steven Lowy basically confirmed this in the analyst briefing. Some of the losses are not a true reflection on the sunk value - in my opinion. I make it out to be about 100 million USD of useful spending plus the 160 million USD starting capital. Admittedly the 100 million already spent is a guess on my part. Looking at acquisitions, staffing costs to build products useful to OMN etc I arrive at this very blunt figure. Certainly the headline figure seems too much and my suspicion is that some products have been developed or worked on in the old Westfield Labs that have been cut or not applicable to OMN.