I spoke to Maureen the other week and she intimated that some...

I spoke to Maureen the other week and she intimated that some clients hadn't paid by the due date - "delinquent" payments as she referred to them. This isn't a good sign - are they not paying because of disputes, etc?

An example of clients on the old payment model (i.e. clients signed to old contracts):

A client that used Source for a month (e.g. January) would be issued an invoice in the first week of the next month (e.g. February) and have until the first week of 3 months later to pay (e.g. May).

An example of clients on the new payment model (i.e. clients signed to new contracts):

A client that used Source for a month (e.g. January) would be issued an invoice at the start of that month and have until the first week of 3 months later to pay (e.g. April).

So the new contracts clients are signing reduces the time lag in payments by 1 month.

Cash receipts will still be minimal for Q3. I reckon $200k max. The migrating of clients across to Source 3 is dragging out and the 3-6 months to complete training sessions gives them yet another excuse for low cash receipts for another few quarters It's an ongoing saga!