Ann: Investor Webinar, page-306

So this is exactly my point. If we have full financials we use those to assess the company’s performance. As these are done on an accrual basis timing of payment is irrelevant.

4C’s are only an interim report and a late payment from (say) Q1 becomes attributable in Q2 and a late payment from Q2 becomes attributable in Q3 so the whole “some customers pay late” explanation still doesn’t hold water. Which adds weight to your idea that some on social media are telling pork pies. Perhaps unsurprising in the communication vacuum that management have created. In the absence of a clear story, people invent their own stories.

Lithium is correct when he says that the software is supposed to ameliorate this (non) issue regardless. AF’s chief selling point before he moved to lending was ease of invoice payment management. Then after the pivot to lending it was ease of cash flow solutions. To borrow some ridiculous corporate speak from the CEO - these two aspects combined should facilitate smooth payment flow “at every stage of the value chain”.

Again, it appears no one knows what is really going on.