The important one for CCF is the operational cashflow as this was negative. If your business isn't cashflow positive you need to get the cash from somewhere else
Agree. However one would buy this business based on historical financials. I guess everyone's motivation is different, however mine is based on what the government's going in this field, and what that will require from business. It's based on what could happen moving forward, not what has happened in the past - except so far as they have a few nice clients in their list. And like I said, my position is very small and I consider this a highly speculative stock.
Your definition of sustainable seems to be different to mine, for me the company would not require additional equity and be able to pay off debt unless making acquistions or to accelerate growth.
Not sure what you think my definition of sustainable is, however to quote myself (any my definition of sustainable): the question with CCF is can the ongoing management fee and other annuity style income service the debt.
Again, this is all speculative and forward looking, not based on historical final accounts. 2012 accounts will be interesting in light of the recent quarters.
MJS
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