crunch time, page-11

Cash drain up,

Operating cash flow before interest:

-3.431
-2.552
-0.465
-1.69
-1.733

(going back in qtrs, first line is the one just released, last line is Sept qtr last yr)

Operating cash shortfall, from customers, before marketing and before staff cost.

-1.134
-0.282
0.947
-0.126
0.238

So, losing cash before paying for acquisitions or staff in 3 out of 5 qtrs.

In the last 12 months, cash receipts $65.7m, costs before staff, marketing and leases $66.3m, a shortfall of $600k, the shortfall on operating cash after staff and marketing is $8.1 million dollars. 12%.

f111