Yes it looks like we will hit the $3million. However the small profit I dont see that as the suppliers value moved from $798000 as disclosed for the first quarter 4c has moved up by $388,000 to $1186000 at the end of December.
Its easy to get one quarter cashflow positive as you just pay your suppliers a bit late especially in December. The delays that is amplified also suggests to me that the company is still in a loss despite hitting the $3million. What would have been interesting is if they commented on what had happened to the debtors figure. I am expecting a small loss around $250k to $400 K for the half year.
I am not as impressed by the cashflow commentary as Creditors grew and they didnt tell us what happened to debtors over the same period. As they disclosed the debtors value as at the September quarter its interesting to see the movement this time. Why not disclose it - My view is that its pretty close to the last year value at 30 June.
So it is further improvement but not yet profitable IMO.
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