Ann: December Quarterly Activities Report and Appendix 5B, page-8

"Cash Position:

As at 31 December 2018, Bass cash reserves were US$0.85 million, an increase of 17% over the previous quarter.There is a two month lag from production to cash receipts as a result of prescribed invoicing processes. As aresult the 1st quarter 2019 will benefit from the remainder of sales in the December quarter."

I am still unsure why they would account on a cash basis? Shouldn't they report on an accrual basis?

In any case, if there is a 2 month lag in cash receipts (given that is how they report), it means included in the December 2018 quarter cash receipts are 2 months cash receipts from the September 2018 quarter (i.e. August and September). 

I understand that production numbers for November and December were considerably higher than August and September... So i would be expecting a minimum of $1.8mil in cash receipts in March 2019 figures.......