You are right but this contract for harware is coming to an end. This will result in the freeing up of the cash. The question is what will they do with it:
From the 2009 Annual Report:
Chairman's Comment:
The Company anticipates the release of investment deposits associated with the Westpac contract during the 2009-10 financial year. This will further strengthen the Company?s capital structure by an additional $9.5 million. We are assessing the most appropriate application of these funds to ensure we continue to build on the great work done to date.
CEO's comment:
While we expect product based revenue to decline in the financial year 2009-2010 due to the discontinuance of the Westpac legacy product supply and support agreement, we are forecasting higher overall operational earnings.
Hope this clears things up; I pride myself on not being a ramper and post the facts as I understand them.
4TK
KYC Price at posting:
49.0¢ Sentiment: Hold Disclosure: Held
