Thanks Lance, I own the stock so interested to hear differing...

Thanks Lance, I own the stock so interested to hear differing perspectives.

If I understand you correctly, your saying that the company is focusing on cash flow but that won't translate well to the P&L for this type of co with high D&A. please correct me if I am wrong, but the cash flow statement does include all interest expenses on any finance/debts and it also covers the full cash outlay on any capital purchases. and now they have been able to still generate operating cashflow which I thought was good or at least moving in right direction.

the D&A will show up later in the P&L, yes, but at that point it is non cash. are you simply concerned about the value of the equipment/assets over time? apologies if I'm not seeing this correctly.

I also note the following -
1/ Staff/ cope costs for Q1 down by ~6-700k (good)
2/ Revenue down on previous qtr (bad) - even though the commentary says it's a record?