Lining these comments up with reported cash receipts in nigh impossible. There are a few things that do worry me though:
CFO departure last week - never a good sign, particularly as they enter the "next phase" of growth, whu would you leave after all the hard work?
VIV need to generate ~$4.2m in receipts over Q4 to have a nil cash balance at June-30, ~$5.4m to hold the current cash balance (based on the outflows forecast in section 9).
The $1.0m in "other" outflows is concerning - is it debt repayment or further NCF funding we are not aware of?
A company in "growth" mode should not have such pronounced seasonality - looks an excuse to me.
VIV Price at posting:
4.8¢ Sentiment: Sell Disclosure: Not Held
