company has $12m worth of invoice financing on their books but still it says they paid all debt which technically correct however instead of using overdraft or bank loans the company is using invoice financing to make books look like debt free... IMO... !
$12m invoice financing is big amount when company NPAT is only $2m for first six month... as basically it means that it has borrowed (financed) 600% of their NAPT to avoid cash-flow issue... IMO...
does anyone knows why they had borrowed such large amount of money on invoice finance... ?
