The reports are inconsistent, and I am rather confused.
Example:
HY report for 6 months Jan to June 2014- dividends paid $182,521.
Appendix 4C published October 2014- dividends received for 3 months from July to Sept 2014 is $106,000, which means total dividends paid for 9 months is $76,521, however the report states total dividends paid for 9 months from Jan to Sept 2014 is $415,000.
There are more, but you get the gist.
The financials state that they are cashflow positive to the tune of A$20m per annum, and their cash is now $35m. Why bother to list on the ASX to raise a paltry $4m with such a cash guzzler? Last report was that they spent about $3.5m to acquire 39 stores, about $90k per store. And it so happens, by stroke of coincidence, that there are supposedly around 370 franchised stores, which on average of $90k per store, will require.....wait for it, wait for it....$33m!! What was the cash on the balance sheet again?
