itsa figures for oct to dec 2011, page-15

Browny, can't give you a definitive answer here and perhaps you might take it up with the company.

A couple of observations:

Firstly , Note 1 to the accounts sheds some light on their principles of revenue recognition.

Overall they would need to comply with the generally held accounting convention of matching revenues against expenses. On this basis I cannot see for one minute that there would be an uncovered cash inflow to cover cash outflows going through to creditors. At very least, it must be money in v money out.

If for whatever reason that $64m in receivables were not recoverable or the company wasn't entitled to it, there would have to be provisions made.

But thanks for exposing my blindside on this matter. I should know the answer and I don't.

On other matters, the company have not resumed buying. Wonder why? Could be as simple as just rolling back into work.