Unfortunately, the cash generation was -767k, but after 1350 of equity net + 583.
I maybe question when net cash generation from customers will exceed operating and dvd purchase costs.
Currently, receipts less (employee costs, advertising, other working capital and dvd purchase) is negative:
Mar 09 -264 Jun 09 -237 Sep 09 -390 Dec 09 -495 Mar 10 -629 Jun 10 -701
The last 3 qtr's these have been 120-130% of receipts.
The Company have suggested an achievement of Op cash +ve, I am just not sure when.
Until then, yes, growth is dilutive.
Maybe the streaming will reduce the operating cash costs. Certainly the new acquisition channels have been a lot cheaper method of winning customers (as above).
f111 [IMG][IMG][/IMG][/IMG]
QFX Price at posting:
3.0¢ Sentiment: None Disclosure: Held