The questions asked by EFDL are fair and reasonable.
In reading the previous announcement I assumed the extra cash used to repay the additional debt came from a rundown in inventories, cash at bank and receivables with an increase in payables. Only place it could of come from but it would be nice for FND to confirm this.
March and June quarter debt reduction is only 9 mill combined so excess cash can be used to increase cash and reduce payables if need be.
At the end of the day it really does not matter providing FND can meet thier obligations when they fall due and there is no indication that they cannot.
FND Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
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