Ann: Big Un Limited Market Update- Finstro, page-55

After some thinking this might be addressing questions they have been receiving around deferred revenue and they chose to answer it in this way. This likely could have been avoided if they used clearer language in their 4c around revenue, deferred revenue and cash receipts.

It's also confusing to then project future cash receipts since there is a component of Australian customers who prepay (has a % been disclosed?) while the cash receipts from America include none.

I hope they make this crystal clear with some commentary in the half yearly otherwise further confusion might just create uncertainty in how progress is interpreted.