Solaris Power Cells Inc (fka SPCL)

[aussieinvader]

Yes, the write off was an accounting entry for the investment they had made in MIG shares. They still own the shares but they are held at nil value in the balance sheet.

When you consider that Foxconn paid $3.5 billion in August 2016 to acquire Sharp Corporation of Japan and then, in October 2016, committed to spending $1.92 billion on an OLED plant in China they may well have decided migme is too much trouble.

https://www.androidheadlines.com/2016/10/foxconn-sharp-invest-1-92-billion-oled-plant.html

After the proposed merger Foxconn will indirectly own about 3% of SPCL through the shares held by Migme Ltd, the Australian company.