Just checked things.
Whilst not entirely correct, what i had done was assume that the entire "other receivables and prepayments" balance of $1,855K related to the Townsville contract , and was more like $2M when it started. As such, being a 5 year contract i assumed it would be drawn down over 20 quarters at a rate of $100k per quarter. As at April 1st, i had ~$2780k trade receivables + $1,600k balance of Townsville. I am therefore expecting cash receipts of $2780 + 45% x forecast revenue of $6370 (which may be a little optimistic) +100k from townsville = ~$5,735
The purpose of my cashflow model was to see if i thought cash reserves would dip to the point where they would require a capital raising so i didn't get too fussy about being too precise. I'm sure adjusting the receivables balance for 'prepayments and security deposits' would yield a slightly different result, but i deemed it immaterial for the purpose of the "do we need a CR" exercise.
Regarding the "other income" in the March, 4C.... i have no idea, but i look forward to managements response. I note they elected not to comment, even though the 4C states "provide details if material"
AHZ Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
(20min delay)