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Bullboard - Stock Discussion Forum T42 Iot Tracking Solutions Ord Shs TIOTF

t42 IoT Tracking Solutions PLC is engaged in providing real-time tracking, analysis, monitoring, and security Internet of things (IoT) solutions for the global container and freight market. It provides hardware and software solutions, shipping container tracking, transportation fleet management, smart padlock security, and central command systems. Its products include Tetis, Tetis R, Tetis R... see more

OTCPK:TIOTF - Post Discussion

T42 Iot Tracking Solutions Ord Shs > Will t42 Get WatchLocks from the Warehouse?
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Post by Loony on Jun 20, 2023 9:40pm

Will t42 Get WatchLocks from the Warehouse?

Crimea hit t42!
https://www.sharecast.com/news/aim-bulletin/crimea-crisis-hits-starcom--dl21558056.html

The distributor, which entered into purchase orders in December 2013 to purchase 4,000 WatchLock units for $1m, told the company that it will be unable to honour the orders due to the political and economic upheaval in Ukraine. Tensions in Crimea remain high after Moscow finalised a treaty annexing Crimea from Ukraine to re-join Russia as a sovereign state. “Therefore, due to the uncertainty of the situation, and following consultation with its auditor, the company has taken the prudent accounting measure of deferring recognition of these revenues from the 2013 accounts,” Starcom said. “The WatchLock units are still residing in a warehouse in Israel, allowing the company to hold them for the customer until a later date, or to sell them to another customer.” Shares fell 5.48% to 17.25p at 15:04 on Friday. RD
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