Stakeholder Update 27 March 2018, page-85

I think you're missing the whole picture tbh.. The money flowing through to FC in the Dec quarter (and all quarters) is the money that would be booked as revenue (from deferred revenue). Have a look at the notes in the Annual report.. These are the monthly instalments paid by customers, regardless of who ends up being paid the money (in this case FC).. We got paid up front, hence they classed it as deferred revenue.

Also, the $14m from FY17 was the accounting revenue. There was an EXTRA $9.4m in deferred revenue..

https://www.asx.com.au/asxpdf/20170831/pdf/43ly6g7lw3c785.pdf