I have compared the Appexdix 4C quarterly Cash Flow statement...

I have compared the Appexdix 4C quarterly Cash Flow statement with the 2012 AR Profit and Loss.

The 4C Cash Flow says Cash Revenue of $6.4 Million and Cash Expenses of $3.3 Million. I have accrued 25% of the reported 2012 P&L costs for Depreciation, Rent, Operating Leases, Audit Fees Motor Vehicle and Travel Expenses.

I get an Operating Profit Before Tax of $1.5 Million for the Quarter.

Granted, there are some unexplained "things" in the 2012 P&L (and I have sought clarification from CPZ on them). Its possible that another impairment charge could eventuate or some other cost gremlin could "appear".

But its possible that, at the AGM, the Chairman will be able to state that "the company is currently trading profitably and should be able to report a full year profit in 2012-13".

Is this a good thing??