Wow, where do we start? This was supposed to be the better half...

Wow, where do we start? This was supposed to be the better half of the financial year, historically speaking. What a horrendous set of results. Revenue down, costs slightly down but not enough, and cash flying out the door. Don't be fooled by the opex cash generation - they are not paying their creditors (creditor days have gone from 21 to 29 days). Admittedly, a big part of that is not paying the rent to themselves.
So, if we get to an actual number and get back to say the 21 days, cash is worse off by $1.9m. On top of that, they have to pay back $3.5m in loans over the next year. So, I estimate cash spend over the next 6 months to be circa $3-4m. Maybe they still don't pay themselves and it is $3m cash out. This is a complete and utter mess of a company, led by a board and management team that have no interest in growing shareholder value.
And, also, no word on the aircraft - some of those current deposits no doubt includes a deposit that I would venture is extremely unlikely to be recovered.