Ann: Third Quarter Cashflow Report-APG.AX, page-24

"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"

If that is the case I would agree with you. You also said

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

My understanding is that the placement was completed on the 30th of November 2015. So all the funds should have been held in trust and transfered to cash on hand when the shares were issued on or before the 7 of December 2015. when the market was informed.

So how was it possible that on the 29th of January 2016 there could be placement money classified as "cash in transit"????