But if they have assets that can be turned to cash within 12 months they would be fine. Except they only have R72bn of such assets. So even if they turned them all to cash, they would be R21bn short.
In simple terms, the entity is in trouble. But it gets worse.
Unfortunately, this also created a credibility crisis for Eskom.
But Eskom didn't stick to the script. They need to explain what happened between then and now. In March 2018, their revenue was just R175bn. This is way below the R216bn.
If Eskom doesn't know how to budget then we need to know.