Loan Calc, page-7

Face it, there is no requirement to publish a balance sheet every quarter so the Management can easily create the appearance of increasing cash simply by stretching the creditors. Zombie companies like this will do anything to create a sound byte like "cash at end of quarter increases due to strong operational cash flow". Whilst not misleading, it's an incomplete representation of the financial condition of the company.

We will have to wait until next year to see the next 6 monthly balance sheet which will tell whether the working capital position has improved or deteriorated. There is plenty of time between now and the next publication of a balance sheet for boy wonder to fashion some screamers of statements and go into Christmas with more pats on the head from the Zombie re-animation team on St George's Tce.