I'm really disappointed that you big note yourself as some hot...

I'm really disappointed that you big note yourself as some hot shot financial analyst.

Have another look at the December 2014 accounts.

Included in trade creditors is $1.435 mill in deferred acquisition costs as per note 8 in the accounts. This consists of two payments to be made in November of this year and November 2016. This was split between both current and non current liabilities.

Oh you may also note that the company paid $1 mill cash as highlighted for the purchase of dla environments in November last year.

Now have another look at the operating part of the cash flow - operating revenue was positive with 10% growth in receipts from customers alone in that period.

There is no proppy profit just a business paying cash to grow organically with clever deferral terms based on performance milestones.

If they didn't pay $1 mill CASH imagine how much better the cash flow would have been?

If anything the p&l understated the performance of the group as acquisition costs weren't noted in that data nor should they be as they are capital costs. If we want to be pedantic we really should add back non cash flow items such as depreciation and amortisation of $358k.

Have a cracking weekend mr hot shot analyst.