A dream run? Where is the deduction in cash burnt?
Staff cost is the highest - January 808K; Feb 589K; Mar 637K & April 857K.
The reduction is in 'Other Working Capital' falling from 1.85M in Mar to 1.08M in Apr which equates to a massive reduction in production output. With sale receipts of $9,000 they may as well close down the plant & spend $0 on 'other working capital'!
The covenant requested for REVENUE from all sources. Revenue in the English language is takings, income or sale receipts. Pure fantasy to believe money not received can be defined as revenue. This new covenant was different from previous covenants requiring 'confirmed sales'. Stark had specifically requested the covenant to specify "revenue" as distinct from previous covenants requiring "confirmed sales".
If the SA money do not come in by 30 June, there is no way the covenant can be satisfied.
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