Standup - the term 'debt' relates to funding over and above working capital items.
Creditors and accruals are "working capital items". MNF's case is a tad different as we've discussed before - slightly unorthodox with a supplier continuing to extend payment credit terms makes it akin to debt funding.
I agree with you, this ENG result is very encouraging.
The profit being referred to is EBITDA profit (so before depreciation and interest) - but it is a good indication of cashflow in the absence of any material investment in Capex.
Loss of $3.3m, of which $1.7m is depreciation and includes a restructure one-off of $400k and I read as a one-off $400k expensed re the launch of ADSL2+.
This result is pretty much what I suggested in my post dated 1 Sep "eng v mnf v fre".
They are on track. Solid position, no cash burn - wait and see what opportunities might come their way cheaply.
ENG Price at posting:
75.0¢ Sentiment: None Disclosure: Held
