Ann: Record Quarter Q4 2019 Appendix 4C & Commentary, page-8

i think you are looking at this wrong. This is a significant cash inflow. The only reason it isn't strongly cash flow positive is that they are now so confident in their receipts, that they are paying for stuff in cash!
- Paying amortisation payments in cash ($619K) - remember we have been hammering Ted because he has been paying for stuff in scrip all year - well looks like he has started paying in free cash!!;
- Not factoring $649K of their revenue (to save the 8% factoring interest costs). This is another 8% on the gross margin for that revenue.
-Pre-paying nearly $1M in ad slots for Q1 - remember Q1 2018 when they couldn't afford to buy any ad slots.

And despite all of that they nearly hit CFN. And the bank balance is still a healthy $1.79M

And whilst once, some might have mentioned...oh that's just Q4 - they need it to be huge before we drop off the cliff. Well, based on current YTD figures, i would be expecting a $6M Q1 2020.

So we are paying off debt with free cash such that with a clean balance sheet 2020 ramp in profits will all go to the bottom line.

I'll venture to say the company has never been doing better. Don't say i didn't tell you so. But i'm sure swami and co will find an alternate angle - i wouldn't know because he blocked me on twitter. Presumably doesn't like opposing views and prefers the echo chamber of his minions.