Don't see why they would be financing cash flows. There is no financing happening here.
I read Notes 1 and 8 of the FY17 Annual Report to be that Receipts form Customers includes the amount held in trust for remittances. Reconciliation of Revenue from Sales (ex R&D grant) (~$2.2M) to Cash Receipts From Customers (~$5.9M) seems confirm. And there is not significant movement in related balance sheet accounts to address the difference.
Which I assume is why their December commentary has not reference to $8M (+$4M) receipts, but talks about revenue but growth to $339k (transactional)
Anyway, interested to see the half yearly which will will confirm.
NOV Price at posting:
32.5¢ Sentiment: None Disclosure: Not Held
