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  "documentTitle": "Quintis Limited (QIN)",
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  "notes": "The slide uses three distinct callout boxes (Figures 9, 10, 11) to document a pattern of delayed payments and management's shifting explanations.",
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      "kind": "callout",
      "text": "Trade debtors of ~$70m reflect... Fees to be received throughout the course of FY11 from wholesale investors once the subdivision of the Kingston Rest property is completed and new titles issue.",
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      "text": "4. Update on 350ha sold in 2009... The investor concerned has not met the April deadline for payment of all the funds but TFS is confident that full payment will be made by 30 June 2010.",
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      "text": "Fast forward to TFS’s FY 2010 results and any mention of the outstanding institutional investor’s payment is non-existent. However, the breakdown of receivables shows a massive growth in amounts outstanding from institutional investors despite management’s prior assertion that future BC sales would be on a cash basis!",
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      "text": "Trade Debtors: 79,257",
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      "text": "Fast forward to TFS's FY 2010 results and any mention of the outstanding institutional investor's payment is non-existent. However, the breakdown of receivables shows a massive growth in amounts outstanding from institutional investors despite management's prior assertion that future BC sales would be on a cash basis!",
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      "kind": "paragraph",
      "text": "The FY 2011 Key Events. Investors are once again reassured that payment for settlement of FY 2010 BC sales (500ha) and most FY 2011 BC sales will occur in FY 2011:",
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      "kind": "paragraph",
      "text": "By May 2010, the Beyond Carbon investor has defaulted on payment and been granted extended credit terms:",
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      "kind": "paragraph",
      "text": "(a ) Included in Trade Debtors are amounts totalling $68.549m due from four institutional wholesale customers...",
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      "kind": "quote",
      "text": "In FY09 TFS sold an investment of 350 ha to the first non MIS wholesale investor (not connected to EIG). At the time, TFS set extended payment terms, with payment due by April 30, 2010. The extended payment terms were part of an introductory offer to the first client of this new product initiative for TFS and were designed to align payment with the planting of the investment during the April to June planting season. The investor concerned has not met the April deadline for payment of all the funds but TFS is confident that full payment will be made by 30 June 2010. — TFS Corporate Disclosure",
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      "text": "8 TFS Media Announcement - 31 August 2010",
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      "text": "NOTE 5: TRADE & OTHER RECEIVABLES (CURRENT)... 2010 $000 79,257... 2009 $000 41,035",
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