Well, if Bendy does use the receipt of the R&D refund as being part of 'record revenue' then he's beyond help as the R&D refund will be shown as a cash receipt in part 2.1(e) of the 4C report (cash flows from investing activities - acquisition of intellectual property) as the R&D expenditure is all capitalised on the balance sheet under IP assets (if you recall from the last financial statements). Therefore, it would just be more proof that he can't read or interpret information correctly.
What is your prediction for revenue in this 4C old mate?
My gut feel is somewhere in the range of a 20-30% increase on the March 1/4 based on the fact there's not been any announcements to suggest it is likely to be more.
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