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Personally I think the opposite. The end of June balance sheet...

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    Personally I think the opposite. The end of June balance sheet is probably irrelevant now given the convertible debt change and the equity raising when looking at ratios etc.

    Pro forma is fine. That is what management looks at anyway every month.

    What will be interesting to see is the balance sheet movement from june to july.
    That will tell you the July npbt (depending on the business, some don't recognise tax monthly), ebitda and cash flow.
 
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