Preliminary Results, page-4

haha

I did see that in the accounts and thought wtf.

That should have been reversed and the prior year comparative updated so they complied with accountant standards.

I would be shocked if the auditors would signed off on the intangibles balances. If they do I will be interested to look at their assumptions. Impairment testing requires forecasts based on current trading conditions not blue sky forecasts.

This business is producing no profit at the moment and they will have more costs based on ASX listing and new Snr execs, so if sales dont fire this is a dud.