Ann: Quarterly Activity Report & Appendix 4C - 30 September 2020, page-43

FYI, just rec'd the usual quick reply back from Will Souter (CFO). I had asked if the FY20 receivables figure ($3.49m) was included under the Q1 Cash Receipts ($3.04m)..but which didn't appear to line up neatly with 'Q1 Revenue $2.5m'; which was presumably 'new' cash/pending Q2 receivables.

Will has advised that they cannot provide me with additional info, as its not released to market. He did advise that more detail will be in the half-yearly + their working capital cycle will be better understood as future qtrlies are released.
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So...thinking about this, per financial definitions (and as we discussed earlier):
- $3.49m FY20 pending receivables
- $3.04m Q1 cash receipts
- $2.05m Q1 revenue

Is this a fair assumption then?
- $2.05m is completely new revenue, taking away from $3.04m cash receipts, leaves $0.99m
- assume $0.99m is from FY20 receivables, leaves $2.5 FY20 receivables still due
- Q2 thus should contain some/all of $2.5m pending receivables + any additional revenue...and yes, then also it could only be a portion of this $2.5....as still need to better understand how their working capital moves through the categories..?

Alternatively, simpler approach could be (per RNClarke/danhoff)
- $3.49m FY20 receivables is still mostly outstanding/cycling through by mid-year
- Q1 $3.04m cash receipts, of which is $2.05 new revenue; remainder comes from something else...

thoughts?