Operating cash conversion, page-30

Forget checking out previous periods Cash Conversion. The % Cash Conversion back to 1st Half 2013 is in the recent Presentation. Its just as I said above. 
Expenses and receipts made and received in different periods. Could not be more simple and self explanatory. Happens at home for many every fortnight. Money spent by Tuesday but pay not in the bank until Thursday - its the same principal. If you report your cash position to your spouse on Wednesday then you disclose  there is no cash. Your spouse just like VGI does not believe you when you say the cash/pay comes in the next period ie Thursday.  
So if there is a problem with CTD its not cash conversion.
As I said in the last post the real red flags to look for are:
Debt increase
DRP commenced
Insider selling
Downgrades 
Two consecutive big cash conversion periods. Cash could be lost forever if for example if CTD paid  for tickets but the organisation CTD sold them to went into liquidation before paying CTD.
Others: Key management and or BOD resignations, Collapse in the AUD/US$
I think CTD should take them on in Court.