Michael I hope you are right but fear you are wrong. I won't...

Michael

I hope you are right but fear you are wrong. I won't cover in too much detail but keep this in mind. The March invoice would have been for feb work. So basically two months of work till end of March. Worst case is two months at $50m a month that Samsung just stopped paying. Even factoring in other de-leveraging that would put net debt over $100m.

I don't think its that bad but it is a lot and there is the potential for a cap raise.

I'm not going out on a limb here either. Hartleys who I'm sure are a lot closer to it than I am predicted the company would have not debt of basically zero by 30 June after the half year results.

Their updated research in July which factors in the Samsung non-payment now has net debt at 30 June close to $70m.

like you said we won't know for sure till later this week but be prepared for a huge blow out in net debt.

The positive is that any recovery is potentially huge.