end of quarter achievements

The aim listing rules makes it that the current cash position needs to be advised guys.

The requirement does not take into account work in progress or work invoiced but funds not collected after the quarter.

Debtors are as per the end of the quarter but not current.

The 300k are old debtors. Some of this has come in and MVH have invoiced more. So the whole information is squewed negativley.

The bottom line is that MVH have revenue from current projects such as consulting fees from Singapore General Health, Torbay Hospital, Royal North Shore. Orders for simulators in the UK and China. Quotes soon to materialise into orders in India (apart from skills centres in discurssion). This is in addition to the quotes in for significant projects in Kuwait Libya and Australia im hearing about.

The thing which is affecting MVH and has been mentioned is the decline of KSX. It has always been their aim to reduce liability here and convert to cash to bridge the gap between revenues commming in and getting the work. With KSX at 5c MVH cash position is affected no doubt.

Over the past few months looks like MVH have been reducing costs accordingly and they will need to manage their cash well.

MVH are certainly not anywhere near out of the game.

Rest assured I feel the situation is very much in control and certainly not out of control , its a situation about timing.

With current projects , now quotes and MVH clear direction in running skills centres the future is looking very good.