I'd say that this requirement to continue 4C reporting is because of really sloppy reporting last year. I voiced some concerns at the time in
https://hotcopper.com.au/threads/ann-relief-from-quarterly-cash-flow-reporting.4669129/page-10?post_id=37723593 and
https://hotcopper.com.au/threads/ann-relief-from-quarterly-cash-flow-reporting.4669129/page-13?post_id=37724493Also when you compared the June Q 4C YTD figures and added the September Q 4C quarterly figures they were way way out of whack with the September Q YTD figures.
|
| Jun Q | YTD |
| Sept Q | Should be | Reported YTD in 4C | Variance |
---|
1 | Receipts | 3595 | 6965 | plus | 2908 | 9873 | 8936 | -937 |
---|
2 | R&D | 261 | 542 | plus | 28 | 570 | 482 | 88 |
---|
3 | Product | 821 | 1167 | plus | 1113 | 2280 | 2748 | -468 |
---|
4 | Advertising | 523 | 1111 | plus | 380 | 1491 | 1599 | -100 |
---|
5 | Leased |
| 0 | plus | 0 | 0 | 0 | 0 |
---|
6 | Staff | 1204 | 2149 | plus | 984 | 3133 | 2459 | 674 |
---|
7 | Admin | 534 | 1290 | plus | 397 | 1687 | 1839 | -152 |
---|
8 | Interest | 5 | 7 | plus | 1 | 8 | 8 | 0 |
---|
9 | Net Cash | 257 | 713 | plus | 7 | 720 | -183 | -903 |
---|
So all those variances are just errors which were submitted to the ASX and signed off on. I would not be surprised if a new September 4C was lodged shortly.
Further if the YTD Net Cash from operating is $-183k in September then there is no way you could get 4 consecutive cash flow statements by December. So the relief from cash flow reporting based on that aspect should be withdrawn, and has.
Personally I am excited to get 4C's again, I think it will be great to see the progress. I don't mind saying I am a bit skeptical about some of the brands and partners we have, its a great opportunity to see if they are making money.