I think it is good to see just how much of the cash flow results from these balance sheet
manueverings, but suggest using longer term, essentially "smoothed out" data for valuation exercises.
Well then....... here is the 10K for SEBL with the applicable section and the columns for years 1998, 1999 and 2000 respectively. I am back here at the table asking you your opinion on this matter, because I feel I do not have a solid grasp on the issue of balance sheet maneuverings and its impact on cash flows. If you prefer not to have to go to the trouble of making a public, defensible treatise of your thoughts on the matter, please consider PMing your thoughts when you have time.
Changes in operating assets and liabilities:
Accounts receivable.................................................. (70,120) (175,842) (258,882)
Prepaids and other................................................... (7,009) (16,705) (58,464)
Accounts payable and accrued expenses.................... 60,294 40,745 230,807
Deferred revenue..................................................... 31,150 35,952 112,864
With best regards, Huey |
