of interest, page-7

https://**.st/news/2017/03/08/why-j...ed-asxjcs-has-zero-debt-on-its-balance-sheet/

Zero-debt allows substantial financial flexibility, especially for small-cap companies like JCS with its market cap of USD $3 Million as they have limited capability of raising large sums through capital markets. However, choosing financial flexibility over capital returns is logical only if it’s a high-growth company. To fulfil this criteria, I expect a company to generate more than 20% revenue growth. In a complete contrast, JCS’s revenue contracted -13.62% over the past year. If the company is not expecting exceptional future growth, then its decision to avoid debt may cost shareholders dearly in the long-term.