Looks like it all fell apart when they bought Poolworks:
pon the purchase of Poolworks (Germany) Ltd. on February 8, 2017, in which they had an old outstanding intercompany payable of $43,638,999 to one of its former owners that consist of $34,061,074 payable and $9,577,925 in accrued interest on this payable, the Company recognized goodwill of $40,574,273, but subsequently recorded an impairment of the goodwill since these payable amounts to the former owner are not realizable. Due to the assumption of an old outstanding V.A. T. assessment by the Berlin Tax Authority, the Company recorded a $692,550 tax liability, which was recorded as impairment to goodwill.
Which right below that, shows that it (poolworks) is operating at a loss of $97,000.
from PAGE 11
