bva takeover higher offer likely, page-10

This is from BVA's last report. Seems all going to well to sell at such a small premium

Operations

Bravura experienced continued positive net operating cash flows of $1.5 million for the third quarter. This is the second consecutive quarter in which Bravura has reported a positive net operating cash flow, resulting in strong net operating cash flow of $10.9 million for the six months ended 31 March 2008. Significant events impacting operating cash flow for the quarter included:

Strong outlook for fourth quarter

Strong cash receipts continued in the first two weeks of April with in excess of $6.1 million received from customers. A considerable proportion of the $15.0 million of accrued revenue is expected to be received during the final quarter of FY2008. Consequently, Bravura anticipates continued strong positive net operating cash flow for the remainder of the 2008 fiscal year.