Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-2

Cash balance again getting close to the edge

I do wonder when all the previously announced growth in the training programs will deliver cashflow and more importantly positive profits to the group......hard to get a sense of what the numbers are supposed to look like especially when they are throwing out numbers like $USD17m in training revenues (compared to ~AUD 9m in cash receipts over the last 12 mths with an EBITDA loss of ~1m)

this investment to me seems binary......it either starts pulling in money on training and gets the approval for Clark (extend lease and floor space) and then this is worth a lot more than 8m or it goes bust (unprofitable training, the court case hanging over the company results in a huge penalty and Clark does not get extended)

is there enough potential upside to offset the risk??