Dreamscape Networks Ltd (ASX:DN8) and its Cash

Since listing in 2016 Dreamscape Networks (ASX:DN8) has spent over $50 million on acquisitions and an additional $4 million relocating its head office to Singapore. The business has gone from a net cash position of $17.7 million in December 2016 to net debt of $17.2 million in December 2018. Meanwhile, operating cash flow was $11.2 million in FY16, $12.1 million in FY17 and $7.9 million in FY18. It will be interesting to see the FY19 result (there was an improvement from $2.4 million in HY18 to $3.1 million in HY19).

DN8 is a roll-up that I will be avoiding. The company released an upbeat trading update recently, but I note that the FY20 figures are neither forecasts nor guidance. What are they?

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