On sale of BWM the company in August stated that on sale the net proceeds will be added to the cash of 23.4m. The net amount was $3m. Therefore the cash balance would be $26m.
In addition the company stated they would use this cash to pay the $13.6m of deferred payments.
Their cash balance is currently $7.5m
Based on the above, the cash should be $12.4m. Therefore we have bled $5m ish.
I would have thought if we were tracking on par and taking into account cost cutting measures we shoud at least have $13m in the bank.
Hopefully the trade debtors are a lot higher and collectable and trade creditors are a lot lower. Time will tell when we get our hands on the cashflow statement.
There could be a lot of reason why the cash balance isnt where we anticipated.
sunny side up?, page-13
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