How I read the Nexon Transaction is that CDR will need to book a loss on it of $2.6 million (being intercompany $1.9 million and tax 700K).However CDR would have benefitted from the profits over the period without paying for the company.
CDR bought Nexon for $9.1million was payable 30/4/08 this has been forgiven.They then gave company back to owners forgiving intercompany $1.9million(this is probably goods sold from CDR to Nexon)and paying 700K tax.
CDR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
