Oh, thanks for the heads-up on accounting terminology.
ENG directors & shareholders will be relieved that they do not need to consider that $3.65M owed to trade and other payables as debt.
The reading of the ENG financials shows that they owe a total of $4.3M, this is not in dispute is it? It is a far cry from the $0.44M that is referred to technically as debt.
Of course if you want to consider debt/liabilities as a whole, it would be fair to add another $1.6M in trade debtors, stock & other to the $4.3M in cash for a total of $5.9M in cash and other income owed.
Simple conclusion : They have $5.9M in cash, recievables, stock & other and they owe $4.3M, agreed?
Oh, thanks for the heads-up on accounting terminology. ENG...
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