They have $13.3 in unearned revenue which is currently...

They have $13.3 in unearned revenue which is currently classified as a liability due to the way they recognised revenue. If this revenue was related to upfront payments for new services, then once the services go live for the customers, these will no longer be classified as liabilities (as performance obligations will have been met).

This unearned revenue could also be associated with upfront payments for a full year of continued service from exisiting customers, so the liability will be reduced with each passing month — as the revenue is amortised across a full year.

The only reason LVT would potentially have to repay this unearned revenue is if they couldn’t fulfil their service and performance obligations. It’s very unlikely they’d need to repay this, so you can effectively remove this from their short term liabilities.

They also have $1m in government grant income listed as a liability. It’s carried as a liability until whatever conditions of them receiving the grant have been met. If it’s R&D related — then they probably just need to prove that they’ve spent a certain amount in R&D at the end of the FY. At that point, it’ll no longer be a liability.