It is a little more complicated than what it appears, finch....

It is a little more complicated than what it appears, finch.
I'll try to simplify the matter.
Vintage has an issue with software settlement proceeds of $600Ks that was recognized in July 2014 & should not be included as "operational" income......In his view , it is a windfall without which there would have been a larger "true" loss.
In other words the prospectus loss for the 9 months to March should be $1.7m , instead of $1.1m.
I think it is a minor issue & is not an accurate gauge of the "quality" of future earnings.
A more fruitful exercise would be to compare the 2nd half of 2015 with the 1st half when this windfall occurred.....This makes 1st half "true" loss $1.5m instead of the reported $900,000 (round figures)
In other words , if full year loss mounts to say $2.2m we can have some comfort that there has been 50% improvement in the 2nd half.
Strange how a finicky book keeping exercise could be a big plus in telling us something about improvement in the quality of the business.