3. Pg 18 states that if the acquisition occurred on 1 July, revenues would have been $8.4m which sounds about right, however they would record a $4.5m loss. I can only imagine that at 31 October (day before acquisition) mgt put through an expense equal to any profits up until then to flush out any profits with the remainder reflecting the results for the two months.
4. Achieving incentive amount, does anyone have a view on if they believe it's achievable, on all my calculations at current run rates, I'm really struggling to get to $1.9m.
5. Cashflow statement, I can't seem to reconcile the receipts or payments I.e.
Receipts
Revenue $3.1m
Opening receivables $0
Closing receivables -$2.2m
Acquired inventory $0.6m
Total $1.5m which is well short of $2.9m included in off
Payments
Cogs $2.3m
Other exp $0.9m (this excludes impairments & D&A)
Opening payables $0.8m
Prepayments $0.4m
Closing payables -$3.0m
Total $1.4m which again is well short of $3.2m
Any thoughts?
3. Pg 18 states that if the acquisition occurred on 1 July,...
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