The March cashflow supposedly had 400k worth of one-off expenses relating to relist, hence, if we take off 400k from net operating cashflows for the March quarter you get $1,949,839.00 in operating cash outflows. The June quarter shows an increase in cash receipts of $1,241,686.00, yet the June operating cash outflows are $1,910,642.00. Hence we have had a $1.2m increase in cash receipts, yet we have only made a reduction in operating cash outflows of $39,197.00.
Assuming a gross margin of 40%, the extra $1,241,686.00 should have contributed $496,674 to reducing operating cash outflows. Why only $39,197? Staff costs are up by $213,017.00, advertising & marketing $61,921.00. The balance? Who knows!
By the way oooaaahh99, I still see no compelling reason to buy FNT when all deals could have been done on an arms length basis. i.e. ATC to be wholesale supplier for FNT traffic and the fee being ATC giving FNT access to China. By buying FNT isn’t the company now almost giving away control to FNT i.e. 94m shares on 300m comes pretty close. For what, when as noted above we could deal on an arms length basis and have only the current shares on issue and current shareholders enjoy the spoils of growth in shareprice.
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