Ann: Quarterly Activity Report & Appendix 4C - 30 September 2020, page-24

I read revenue as 'new sales' not yet cash receipted. I think we can always think of a 3 month delay between revenue and receipts. That is why I ask re 'down trend'. If they have 2.5 mill in revenue this Q, they can only collect 2.5 mill receipts in the next quarterly.

It is all 'ok' if the debtors can be over 90 days. Or if the revenue is committed contracts not yet manufactured and dispatched.

They have stated they are cash flow positive on operations. Mind you, they were 'before' at 65% margin. So I dont know what they mean. They likely mean the entire company is cash flow positive now, as I dont see any cash burn.

Overall a very steady report. On the up. But again, how to value the share.

Maybe Mr Market will be happy, just seeing more steady, positive news.