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All the numbers and figures, the balance sheet, financial statements, income statements, the capital structure, accounts receivable, all these figures were extremely tested and revised.
As of March 31, 2023, the company reported cash and cash equivalents close to $336.1 million, short-term investments of around $35 million, and accounts receivable of $149.4 million.
As of March 31, 2023, the company reported cash and cash equivalents worth $36 million, accounts receivable around $71 million, inventories of $50 million, and prepaid expenses close to $19 million.
As you can appreciate, interest in accounts receivable automation is top of mind for CFOs globally, as working capital management and cash collections are under intense scrutiny.
A trader having windfall profits in KPK might have to be at pains with his bank to prove why his receivable is not a ‘suspicious transaction’.
Source: https://www.pakistantoday.com.pk/2023/02/05/creeping-national-security-state/
For trade accounts receivable, the Company applies the simplified approach in calculating expected credit losses ("ECL") based on expected credit losses at each reporting date.
In June 2023, the Moa Joint Venture (Moa JV) approved the final cobalt dividend required to fulfill the 2,082 tonne annual maximum volume of cobalt receivable under the Cobalt Swap agreement.
Source: https://investingnews.com/acquisition-of-shares-of-jervois-global-limited/
In short, we would like to see the growth in accounts receivable slow.
I should further emphasize that the large interest expense incurred in the third quarter was primarily driven by a sharp rise in interest rates of 4.5% compared with the prior year for the accounts receivable discount program offered by our customers.
I should point out that due to record sales volume, we expect our accounts receivable balance to increase significantly in the fourth quarter, which will result in further enhancement to cash flow in the next – in the new fiscal year.
Looking at the balance sheet, net debt was down to $3.3 million from $44.9 million at the end of July as trade accounts receivable went down by $35.6 million quarter on quarter to $33 million.
The balance sheet, in August 2022, included cash of $34.894 million together with a trade accounts receivable of $2.425 million.
The company's cash on hand as of March 31st, 2023, increased to $3.9 million from $1.6 million as of December 31st, 2022, as a result of collections on accounts receivable and annual billings associated with our 2023 SaaS-based contracts.
This position manages accounts receivable, accounts payable, deposits, reconciliation through QuickBooks, generate general ledger reports, journal entries, and provides general office support including reception for The Catholic Messenger newspaper.
With respect to accounts receivable, you see the usual increase that we have in Q1 due to the seasonality of the Ag business, but you also see another effect.
Your contract receivable is up 9.2%.