Ann: Section 708A(12C)(e) Cleansing Statement and Appendix 3B, page-43

Exactly right. At some stage the flow through of revenue and margin means that even though payments are running a quarter behind that there is plenty of cashflow to support the business model. The more they scale the more trivial payment terms becomes.

And another important mechanism is the factoring loan that allows them to access 80% of any revenue instantly as soon as it is recognised. This helps to smooth out payment terms.

As i understand it they are now fully utilising this factoring facility so they are reinvesting 80% of the daily revenue we are being quoted ($48K/day) straight away.