Ann: Appendix 4C - quarterly, page-5

Definitely not the quarterly I was expecting. Cash due before the quarter started was 850k. In addition to expecting receipt of this 850k, I had anticipated we would have generated additional cash revenues during the quarter. Yet we only received 487k total. Settlement terms of more than 3 months given our product/industry seems a bit unusual yet apparently it is happening on a large scale and being to used claim a ‘maiden profit for the year’. Might be profitable using this method but if there is no cash then it means nothing. What are our bad debts looking like in the future at this rate?

It seems our management are handing out products and recording this as revenue yet in reality it appears that these products are not being paid for – at least not within three months.

First news of two new contracts in NSW and WA plus we were approved as a supplier for a multinational in Asia. Who, when, how much???? I guess you can assume these are nothing contracts otherwise the details would have been announced to the market.


http://www.sharechat.co.nz/article/9916a781/insider-ef-unmasked.html

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=161850