Ann: Half Yearly Report and Accounts, page-2

Half Yearly cashflow statement balances with the Q1 and Q2 4C's. It is interesting to see how that revenue figure reconciles with the cashflow and balance sheet. Cash receipts of $12.689M for the half-year, against revenue of $2.262M, but we don't see a great deal of unearned/deferred revenue sitting on the balance sheet. The hasn't the receipts from customers been recognised in the accrued income statement, so why can't I see the deferred revenue anywhere on the balance sheet?

Then if we look at pg 19, the billing solutions is coming into the revenue stream with that $888,255 figure, and positive EBITDA, as well as the payment processing services getting a solid lift in revenue against the prior half year, but there are no big swings in the balance sheet to reflect the surge in cashflows compared to revenue, which are based on cash and accrued accounting respectively.

Can anyone else reconcile the $12.689M in cash receipts against the accrued balance sheet and income statement?