Some more food for thought.
Have a look at the FNT balance sheet on the ASX release on 2/7/02. You will note that on 31/12/01 FNT has a cash at bank position of 6 mill.
For aguments sake. Lets say they on average maintain 6 mill in the bank.
When ATC buy out the shareholding of the FNT vendor, they will assume the assets and liabilities of FNT. An immediate access to 6 million. Furthermore, as ATC is now a retailer and wholesaler, as soon as the customer pays for a prepaid card the cash is immediately available to ATC i.e the wholesalers gets access to customer cash immediately rather than waiting say 30 to 45 days as a creditor.
Not bad at all. Just need to finalise the deal. I cant see the FNT vendor pulling out now as he has already agreed to the sale.
aquiring pulse telecom asia.., page-11
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