I think he went one further - to a cash EBTDA too - trying to get my head around that - ranging from describing a cash profit cash as excluding write-offs and extraordinary items, right through to recording extraneous cash inputs (from kindly uncles and benefactors such as shareolders) lol and making adjustments for accrued stuff - the mind boggles. What other reasons could there be for projecting a cash EBTDA?
I told you good time to buy, page-1566
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