“A$2.6million in unaudited revenue for the first quarter, an...

“A$2.6million in unaudited revenue for the first quarter, an increase of 30% compared to the same period last year”. Is this potentially a sign that the flat line trend will indeed be broken moving forward?

I haven't been tracking the relationship between revenue, receipts and receivables closely with this one due to the nature of the business. Revenue and receipts should be pretty close given the way in which ICQ sells its product. However, i might have to scrutinise a bit more now that the business model has evolved a bit, and that things are getting more interesting.

For example, On the FY18 Report, there was $1,443,749 in Receivables, of which $1,063,499 was trade receivables (which would show up as receipts in the Q1 quarterly). The notes to the accounts (9) state that credit terms are usually 30 - 90 days. I needs to dig into which lines of business are done on credit terms so we can see if there is indeed growing revenue that will have a delayed cash inflow. Also need to work out what % of business is done on these terms so we can see what the ongoing cash conversion rate looks like.

Keep your eye on the Receivables on the balance sheet in the HY Report. If Revenue is up and so are receivables, the receipts will follow in the following 4C and we might avoid that CR afterall.