Relist -When??, page-22

I think you have missed the point again.

Its NOT (well the majority of it) Receipts from Customers.

Its LOANS from the Finance Company.

At that stage, there was NO Legal Contract between the company and the customer/s to pay for services.

At that stage, there was NO Legal Contract between the Customer/s and the Finance Company to pay the company!!!

This is the Reason why most of the monies advance to the company are Quarantined in a Special Bank Account.

Conclusion - Its NOT Receipts from Customers at all (well at least most of it). Its Actually Proceeds from Borrowings under 4C. That is where the company should have classed those loans.

Was it deliberate or incompetent - to class it as "receipts from customers" instead of "proceeds from borrowings"?

IMHO, it was deliberate as its intention was to drive up the SP.