Ann: Investor Webinar, page-308

Of course the late payments all balance each other out across the full year, but it would inevitably result in a timing difference between the recognition of 'revenue' in financial statements (which are prepared half yearly and annually, and the 'receipt of cash' in the 4C.

I agree with you that there appears to be people out there who are just making things up about what's going on with the company and presenting it as fact using the old "I spoke to management and they told me..." line. However, in my experience management of listed companies don't typically engage in such discussions with shareholders (i.e. about which customers have paid bills on time).

It is for that reason that I look at the 4Cs to assess the cash receipts of the company and the expenditure from one quarter to the next as it matters SFA whether $10k was received in Mar 1/4 or June 1/4 as it would all be recorded in the revenue in the full year accounts in any event.

It is more helpful to the discussion if people present their opinions as such and not try to dress it up as fact.