I hope this helps: The 7m in employee payments is understandable and acceptable IMO. The employee payments were 6.8m the previous year and the company has been gearing up for the IBM / VA implementation. They have known for a long time that this deal was going to be signed off but the US government has worked a a painstakingly slow pace. I am not seeing 12m as a liability. Total liabilities is only 6m ??? and Toatl assets is $24m. I see 12m in the cashflow as payments to suppliers and employees of which 7m is represented in the P&L.
TTB Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held