I have been doing some more on going research here and my view based on the following shows me "potentially" a positive result for the current qtr.
Announcement 24/07/2018 4c qtr 4 FY 2018 comments pre-amble. Cash receipts for FY 18 Qtr 4 were lower than PCP.
True receipts for qtr4 were $888k. PCP (qtr4 FY17) $1550k. (this result in qtr4 2017 was a 50 % increase on PCP 2016 of $949k.) In the pre-amble 31/07/2017 they intimated that some of the reason for this 50% gain was the signing of 5 new clients "over the last 2 months" So some in June 2017, some in July.
Seems reasonable to expect sales receipts in qtr 4 fy18 to be similar to FY17? But here we are with a $662k reduction qtr 4 FY 2108! Why we ask...……
Well they explain away this deficit in ann 24/07/2018 "This was due to a number of factors, including the renewal or extension of existing contracts later in the qtr than planned, and the delay in sales activity in our key gaming iGaming market due to our clients operational focus on World Cup Football Cup" Fair enough.
"However, due to the timing impact indicted above , cash receipts in Q 1 FY 19 will now be higher than the PCP subject to the receipt of the company's R&D rebate for FY18"
I believe these are number of these "new clients" that contributed to the 50% increase in cash receipts in Qtr 4 FY17 will now appear in qtr 1 FY19. (late in renewing 12 month contracts)
So qtr 1 2019. should have at least $620k (this is the PCP 2018) $620k
Add in the difference between QTR 4 2017 to 2018 $662k $662k
Add in the R&D for FY18 now received Ann 22/08/2018 $768k $768k
Total estimated receipts. $2050
Estimated cash outflow for qtr1 FY 19 $2019
That's a positive result of $$31k, and I'm adding nothing on for any improvement in revenue.
Still leaves us with the cash we had going into qtr1 2019 of $217K. add in the loan provision still outstanding of $400k. Then consider previous positive quarterlies 2 and 3, FY18. Then the continual GROWTH. THEN THE GREAT OLD USA REVISION OF GAMING LAWS.
