NOV

2.60%

7.9¢ novatti group limited

Ann: Appendix 4C and Quarterly Update, page-32

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SortedItOut

195 Posts.

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27/10/20

08:46

Post #: 48406845
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Originally posted by Brett M H: ↑

@ SortedItOut - g'day!!

The NOV 4C's have always been a "little tricky" to fully comprehend - as they report gross transaction $ amounts (as total cash receipts) and then they subtract the transactions costs that NOV occur on these gross transaction $ amounts (in the total outgoings section).

But these total cash receipts figures obviously don't then directly translate into similar revenue figures.

I think this is why NOV always include their quarterly revenue figure in each quarterly 4C report.

It was another really solid 4C report for NOV today (their professionalism is outstanding) - with the second highest cash receipts number ever, and the only surprise for me being the really high $997K for "other working capital".

The last 6 x NOV 4C's have reported "other working capital" as $51k, $150k, $120k, $251k, $234k and now $997k ?

So maybe this nearly $1.0m is the costs associated with the large $11.0m capital raise?

Staff costs were also a bit higher than usual - but the report did outline they have employed a further 12 people in the past 2 months, and this figure also still includes all the NOV banking staff.

The last 4 x staff costs in the 4C's have been $2,112k, $2,708k, $1,759k (period ending 30 June 2020 so maybe "staff payment timing issues" ??), and now $2,685k.

All in all (even with the above), the cash burn was a very manageable $1,007k - and Peter Cooks / NOV's commentary is now firmly on cranking up revenue growth.

So clearly that is the mandate going forward, and I am looking forward to seeing them achieve it.

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Thanks @Brett M H was confusing myself trying to match up the numbers. the ~$1m cash burn is their entire loss for quarter so reasonably happy now the receipts etc has been explained.

NOV Price at posting: 27.5¢ Sentiment: Hold Disclosure: Not Held
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Ann: Appendix 4C and Quarterly Update, page-32

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Ann: Appendix 4C and Quarterly Update, page-32

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