Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-7

they are making money. We have had this discussion before - it’s a cashflow statement not a profit and loss.

the cash is affected by paying 9 million dollars from the previous quarter. EBITDA is down because of the delayed contract start.

The half year and full years are the important ones, we need to see npat happening (particularly in the full year), otherwise I will join you in the negative camp