Compare the other working capital payments for the Sept and Dec qtr. How is it that they have gone down in the Dec qtr when receipts and revenue and way up? Dont they have suppliers to pay? The 222,275 is positive, yet, how much in dollar terms were suppliers stretched out to be paid in Jan 03 and hence appear in the Mar 03 cash flow!
Now for my favourite pet hate in this companys cash flow statements. Its Item 1.24. Can someone please explain how payments to directors and associated entities can come to $507,527.00 for the qtr? If FNT is a measure of their success for the Dec qtr, then they should refund every cent received. How can a company survive where such payments represent 12% of gross revenue for the qtr. Grant can you give me any telco in the world that pays more than 12% or even remotely even comes near 12%.
Even more galling is that the company has decided not to provide an explanation in relation to the $500k, where it should go in Item 1.26.
ATC Price at posting:
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