Why is new CFO talking accounts "payable" The financing documents stated Reliq's working capital at Aug 31/23 was $16.3M, up from $7.5M at Mar 31/23. This was due in part to the large device order fulfilled by Reliq. Current liabilities has probably grown by $5M to over $13.5M and device suppliers have probably stopped letting Reliq purchase devices on credit. It's full payment upfront until outstanding device loans start to decrease.
| | April to August | April to August | April to August | |
| At Mar 31/23 | $10 mil equip sales | Non-current to current long term receivables | Cash from operations? | At Aug 31/23 |
Current long term receivables | 12,389,351 | 5,000,000 | 5,901,360 | | 23,290,711 |
+ Other current assets | 3,897,422 | | | 2,868,663 | 6,766,085 |
- Current liabilities | 8,756,796 | 5,000,000 | | 0 | 13,756,796 |
= Working capital | 7,529,977 | 0 | 5,901,360 | 2,868,663 | 16,300,000 |
| | | | | |
Non current long term receivables | 5,901,360 | 5,000,000 | -5,901,360 | | 5,000,000 |