good cash flows..now refer below (extract from comm'ments tesy...

good cash flows..now
refer below (extract from comm'ments tesy 3rd qtrly report to 31.03.04)


Note 1: Net Operating Cash Flows
The Company has continued the positive cash flow generation in the current quarter.
As at 31 March 2004, the Company had cash reserves of $14,465,000. In addition to these cash reserves, the Company has $405,000 held as Security Deposits, which are held in the Company’s name and earn interest at term deposit rates
A quarterly breakdown of cash flows is provided below to better illustrate the performance for the year as a whole.

QUARTER NET OPER CF NET INV TOTAL
$’000 $’000 $’000

SEPTEMBER 2003 1,531 (882) 649
DECEMBER 2003 1,795 (1,104) 691
MARCH 2004 1,350 (627) 723
4,676 (2,613) 2,063

During the current quarter the Company has invested approximately $300,000 into its wholesale operation, Calvista Australia Pty Ltd (Calvista) and the retail division. The Company has continued to modify and further improve the new computer system, enabling greater efficiencies to be realised in the future with regards to stock