Will warrant convrsion help with debt, page-22

I have held back criticizing you but I would like to point out recent predictions you made for neutral cash flow. in Q3 16 Q4 16 and Q1 17. All were negative. this is fine we all make bad predictions. As long as we learn that is fine. Then when I said that Q2 was first unqualified positive cash flow. you came back saying that they had been positive for 18 months. I quickly posted actual numbers. Then you said well they were positive Q4 15 which they were but not from operations. This told me allot that in-spite of being wrong you did not learn from mistakes. You through up a bunch of smoke about cash flow and actually succeeded in fooling yourself. Why else would you say cash flow positive for 18 months. Now you are taking Q2. and totally ignoring the P&L which is a huge clue to Q3. Yes I might be wrong but are you considering the balance sheet with large growth in delta between payable and receivables and long term implication of this. The fact in H1 they did not sell all of product made, yet inventory went down.

I may be overly aggressive with 7 M but I will leave it. but with your predictions of slightly positive cash increase any cash decrease over -3 M and I will take the win. My guess if it is -5M you will have no problem saying how wrong I was and ignore what you missed as you have done before.

That if you are wrong. When annual report comes out you will go and see what happened and learn.

I certainly missed on Q2. But less than +1 M was hardly what you predicted.

Making predictions is fun and educational, especially when you are wrong. There is one obligations with making predictions. Quickly announce when you are wrong so if anyone is using the prediction they know. Then Learn from it by studying it.

You posted
Q2 results:
Revenue $65m
Cash outflow $57.8.

What does this mean to you? What should it mean to me? Cash went down by just under 5 M. H1 P&L for H1 was -12.xx M before one time items. Please explain what you think significance of your numbers are. I guess I am stupid, I just don't get it please explain.
One lass point for you to consider. Cash from sales Q2 was $ 58. 339M . and that was the revenue. Now there was a one time gain from refinance that sort of makes your 65M number but not sure where you go it 65M It was not revenue. I hope you clear this up so no one else believes it. Document and page number would be appreciated.