Actually, revenue was running at $54 M as of Sep 30 2021 half...

Actually, revenue was running at $54 M as of Sep 30 2021 half year.
$26 M for the March half year and $28 M for the Sep half (with rounding)

Quarterly cash flows are hard to reconcile to earnings. I imagine Coles is paying 90 days from invoice (they screw most suppliers) and who knows what terms the Chinese negotiated? Even cash on delivery will add sea freight delays to the payments.

This is why they are able to (and need to) finance so much. It's normal for growing companies to run at negative cash flow, especially when their CoGS is significant. WIP just sucks up working capital. It's only when they stop growing (or contract) that positive cash is collected. Do we want them to stop growing?