What's going on ?, page-16

I do not have that as the cash position to use in an EV calculation. As per 4E statement, at 30/6/16 there is 2.353M in cash however 1.315M is actually the vendor's money to be repaid. Hence the cash position to use is 2.353-1.315= 1.038M as at 30/6. This pretty much reconciles back to the 1.073M cash position stated in the June 4C. If the capital restructure goes ahead 0.35M in cash due to vendor will be 'forgiven' and not be repaid.