Cash for the end of September is $55.5M vs $54.4M at the end of Q2.
How is that possible if not for a huge increase in deferred revenues?
The company paid $1.6M in dividends during Q3. If you add the $3,5M loss they announced, cash levels should have been close to $50M, not $55.5M.
I don't think so...Most of their payables are human capital related.
What I think happened is that when a cloud customer pays for a year in advance, they can recognize only the months the customer was in service.