I know there was an unanswered question at the AGM re "other...

I know there was an unanswered question at the AGM re "other working capital" in the last quarterly. Specifically - what was the $4.9m "other working capital reported in the qtrly.

I was suprised that Falconer(?) couldn't answer this one - but I presume he has a accountant prepare the asx cashflow statement which is why it drew a blank with him. However - this number is surely just the sum total of all other input costs that are not seperately broken out in the cash flow statement. These costs would include items such as rent, materials costs, IT & comms costs, etc. Also it would include any net increase in debtors or decrease in creditors during the period. I note that in the last financial year the corresponding amount was a bit above 19.7m for the full year. So there doesn't appear anything too unusual to me in the $4.9m.

Now what I found more concerning is that on the day they released the quarterly (31/10) they stated that the Larson revenue from 100k units would be received over the next two quarters (ie approx 4,000-5,000 per week). Less than a month later they tell us that the units are shipping at 1,000 per week. I don't recall them being challenged on how they could have such a difference in less than 4 weeks since announcing the deal (I think we all had our jaws on the ground trying to clarify exactly what the real shipping volumes were). After all they had been working with Larson for over a year. This apparent lack of understanding of their only significant Intevia sale ever would appear more concerning than the inability to know the line items in their qtrly cashflow.

Did anyone happen to probe this question after the AGM or does anyone understand how suddenly the volumes have dropped by 80% unexpectedly - did Larsens tell them porkies?

Cheers
Zinc