Haha, maybe it was due to the second shot of whiskey on Friday...

Haha, maybe it was due to the second shot of whiskey on Friday night.

The assumptions I made was:
1. Staff Costs is payment to FLC employees and are not totally classified under SG&A. I had allocate portions of staff costs to SG&A, R&D and Cost of sale.
2. Cash outflow for SG&A, R&D, Product Manufacturing Cost are paid to external contractors, subcontractors, advisors, agents, rental, facilities etc.
3. I have compared the 4 quarters of cash flow statements and reconcile the difference with the half year and full year accounting reports of 2020, and back tested against the reports of 2019. Note that in the revenue statements of half year and full year, Staff Costs doesn't appear in either and the SG&A, R&D and Cost of sales are not just the sums of the 2 quarters added up.
4. I assumed R&D and SG&A staff costs are paid currently, no prepayments or accruals.
5. I applied the balance of the staff costs to Cost of sales which would have great amount of WIP, accruals and work done in the current period but not included in the current period's billing.

In the end, it is still an estimation. Hope it helps, or shall we have another whiskey?