Ann: Third Quarter Cashflow Report-APG.AX, page-16

The period referred  to above  to is littered with placements completed and in progress.

If the company was to receive   confirmation of a remittance advice showing confirmation of deposits being made but as usual takes two or three days to show up in the APG account how is it  classified, as cash, receivables,  cash in transit or not at all.

Certainly can raise a question  however completely acceptable to the Auditors and the ASX.

Why....

If it was overstated (fictitious) then one assumes overstated amounts for each quarter  accumulate. Based on your figures APG has now overstated its cash position by over $1.0m.

But no, it doesn't, the cash is there or arrives there and is spent accordingly.

Again, audited by KPMG, signed off by KPMG.


Below a simple bank reconciliation showing deposits in transit.

	Column 1	Column 2	Column 3
0	Alpha CompanyBank ReconciliationMarch 31, 2013
1	Balance per bank statement	$ 4,672.98
2	Deposits in Transit
3	Date	Amount
4	3/30	$ 500.25
5	3/31	$ 1,890.33	$ 2,390.58
6	Subtotal	$ 7,063.56
7	Outstanding Checks
8	Check Number	Amount
9	1656	$ 22.50
10	1693	$ 150.00
11	1696	$ 32.00
12	1697	$ 1,902.00
13	1698	$ 1,105.80	$ 3,212.30
14	Balance per books	$ 3,851.26

The KPMG statutory accounts would show cash of $$1,460.68 yet the APG working capital cash report will show $ $3,851.26. A discrepancy of $2,390.58 (cash in transit)


I can understand why the company won't talk to some shareholders particularly when those shareholders have asked the same question at the AGM.

I sincerely hope the APG management are putting their energies toward finalising some transactions instead of attending to the timewasting correspondence brought about by the odd shareholder who has unfounded concerns over a small timing difference or  the classification of cash both of which end up being (if not already are) physical $$$ in the APG account within a few days of the quarterly report being lodged