Simple Math CJCF 340m Exp 120m FCF 220 FCF per Quater 55m FCF Per day 611,111. If you subtract div 24m we should have 31m. To understand why the debt is not paid yet (12m) we should assume that dividend has to be covered first so: We earned so far 57days x 611,111=34,833,327 After div 34,833,327-24m=10,833,327 in the bank. If they allocate 50% to debt so 5.4m is going to debt and 5.4m to share buyback. That is why they claimed that they shoild achive 50m by the end of 3 q. Let me know what do you think... Cheers..