quarterly out, page-21

to further explain my observation.. it is true cashlow is not balance sheet and there will always be timing differences between the 2, cos debtors havent paid in period of incursion and same for creditors.

but if u take a snapshot of ausmeter and powersave alone in total budgeted profit presented to us was 9mill for this calender year..

that 9mill being net EBIT..

lets say the markup on sales is a conservative 25%.

so annualised to find revenue u must multiply 9mill by 125%

= 11.25mill in booked sales jan-dec 08.

if there was no timing difference from revenue to bank u would expect one quarter of this as a cash receipt per quarterly cashflow.

therefore 11.25mill /4 = 2.8mill per quarter.

allowing for first quarter variances and timing differences of incomplete jobs and debtors not paying as of yet. One would still fairly expect to see 1mill cash reciept from these 2 new divisions ALONE in current quarter perhaps? thats only 1/3 of booked sales?

So there are lies here, or debtors that aint paid a cent, or some complex agreement that powersave only get paid in full on completion of bank rollout? or we arent being reported to at all on these divisions cashwise.

All this without pri money, without UDS subs, without AMI, without ecobulb........... :/

for me, to justify the 733k cash reciepts shown in this quarter, there just seems to too many logical worst case allowances i have to make to accept it. So it smells to me.

having said that im totally open to give mgmt every fair chance to explain there side at an EGM before coming to a complete conclusion. I think daf may be right, we need to get these q's and others on the table in a formal environment.