CSE:DVN - Post Discussion
Post by
lscfa on Jul 05, 2021 10:46pm
Q3 on sedar
Negative revenue for the qtr. WTF?
Revenue from operations during the three months ended April 30, 2021 declined due to a change in revenue recognized on an ongoing installation project.. The change in milestones achieved relative to the milestones remaining resulted in a reduction of revenue recognized during the current period on the project of $77,000. The Company expects to complete the project and recognize this revenue in the fourth quarter. The Comparative period saw revenue of $4,179, reflective of the completion of a number of projects in the proceeding comparative period, Q2 2020.
During the period, the Company completed a project with a large corporation, strategically priced below cost, resulting in an approximate $80,000 negative project margin, most of which was incurred in the current period.
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