Correct, contract accounting is not easy and depending on terms of contract cvash flow can be very lumpy, particularly towards the end of a contract when variations, liquidated damages and other one off items become a focus of both parties attention. The fact RCR was so near the end of a major contract would have brought these factors into very close focus. EOFY is always a time of intensive review for all in contracts in progress. This review should have been very intensive this year given the company knew it was asking the shareholders and other funders for new equity based on those numbers signed off at 30 June 2018. Hard to believe anything could go wrong between period of final sign off on 30 June 18 financials, the CR date and latest TH. Something is not cosher in RCR.
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