DW8 Growth, page-12192

4C revenue was $7.2M - $1M for NDC deposit = $6.2M.

PMOC was 61.1% of revenue last quarter so $6.2M x 61.1% = $3.79M.

PMOC of $6.09M - $3.79M = $2.3M difference. So the question is what is this $2.3M for? Kaddy, equipment, cardboard boxes?

They lease all the warehouses, however, there is nil amount in the leased assets column in the 4C. DT was queried about the PMOC increase last year & got a bit stroppy. It appears some figures go into PMOC creating smoke & mirrors making it difficult to decipher what is actually going on.