Ann: Appendix 4C, page-8

It depends on the contract/payment lag but yeah I would normally expect the revenue to follow the output.

The only advantage might be if the 24million out this quarter was used for some of the inventory/payments for the revenue coming this quarter. Which could be the case.

They only expected 17.1million outflows this quarter, which would mean they didn't expect such a huge rise in revenue and may have been budgeting for this quarter also.

I still like their model and growth, they just need to tighten their out-goings or charge slightly more on the product side. Even a 3-4% increase could see them consistently being cashflow positive.