Yes the HY report will be very telling as to how the business is tracking under this model. We don't know how quickly customer acceptance is and this is something I have been thinking about.
I don't know if this is accurate or not as I don't know the ins and outs of how the business handles the cash. Based on the September 4C there was approx $15m in cash receipts. If September was using a similar deal with FC then we can assume 80% was locked into security deposits so that's approx $12m.
Then if you consider the entire cash breakdown there was $19.8m in security deposits. Subtract the $18m from the December 4C that is attributed to the FC deal that means $1.8m must be carry over from September Qtr and $10.2m has been cleared via acceptance. Then consider that BIG have said the pool is sitting at $19m used that means since December a further $800k approx has been cleared from the pool. What we don't know is if it was reduced by $800k only or if there was more because it could have been that they cleared some and have just added more sales on top which has reduced the pool by more.
Am I just rambling or is this making some sense..? Serious question lol.
