buy backs and Macquarie, page-10

I have done a bit of digging prior to making any sort of investment in KGN.

"By 31 March 2024, our cash balance had decreased to $34.1 million from $83.3 million on 31 December 2023. This reduction was primarily due to the repayment of accounts payable that had built up during the peak retail season, facilitated by favourable credit terms from our suppliers, though our Share Buy-Back initiative also played a role. This pattern is consistent with previous years. We have effectively managed our cash flows and remained debt-free throughout this period. We are currently comfortable with our cash reserves and our ability to support our operations, with no need to raise capital in the near future."

I'm going to wait until I see a reversal of the downtrend before making any sort of an investment.