Cash would have been spent on stores as well as tax payment would have come due. Add in volleyball sponsorship and office construction and would add up. I consider the stores, office and market an investment in future returns though, not money wasted on blowout expenses.
Also debtors are much higher so if they were reigned in cash could be closer to 40 million, this is an area I want to see reduced and focused on by management. Would hate to see a trade partner skip town, wouldn't be that critical but would be some lost ground.
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