In the Appendix 4D they show Net TANGIBLE Assets as 0.42 cents per share , and I did say "I guess they have written it right and I am reading it right).
Well it appears they have written it wrong and I have read it wrong.
Now, on checking the calculation by dividing the $106,410,118 (Total Non Current Assets) by 2,650,000,000 shares on issue we end up with 0.0401554 cents per share, which is correct.
However showing it as 0.42cents could be misleading/confusing because the calculator shows it as 0.0401554 cents per share , which is the correct way . They could have also shown it as 4.2 cents.
A convoluted explanation for my error but you get what I mean !
You say that the vast majority of net assets is Intangibles ($97,078,619) and that is the way it is expressed in the Consolidated Financial Statement under Non Current Assets . However in Appendix 4D it is expressed as Net TANGIBLE Asset Backing per share 0.42 cents.
A touch of confusion , smoke and mirrors maybe or an each way bet ?
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