Ann: Appendix 4D and Half Year Financial Report, page-76

"They have receivables at 31Dec of a million dollars so that is the likely income figure for the March qtr."

That's a non sequitur. More accurate to say that the million dollars (representing sales made before the March quarter even began) is the guaranteed minimum figure.

Sure, some of the sales made in the current quarter won't have been paid for by 31 March. However, it's very unlikely that all 3rd-party distributors are on 90-day terms, and NUH will certainly be banking income from direct sales.