Picked a few of these up recently but expect there will be some...

Picked a few of these up recently but expect there will be some bargains to be had in June.

So at 31 December 2016 there was $8.732m in cash and $13.302m in debt. Then at end of April there was $8.929m in cash and $10.016m in debt. So net debt improved by $3.483m in those 4 months. It doesn't look like too much has been squeezed out of working capital either ($714k reduction in receivables) albeit we don't know unearned revenue at 31 December.

So maybe not gushing quite as much cash as you hoped but still looks pretty good to me.