Zero revenues and confusing explanations. Not impressed.
During Q2 2022, the Company announced contracted sales of US$75,000. As at the reporting date, the contracted sales had not met the Company’s revenue recognition requirements and as such, initial payments received in the amount of $35,437 (US$27,500) have been posted to deferred revenue. To- date, cash flow generated from contracted sales announced in 2022 amounts to $37,260.
United States (“US”)
In Q1 2022, The Company announced a large, contracted sale to a US greenhouse owner for US$127,750. As at the reporting date, the sale had not met the Company’s revenue recognition requirements and as such, the initial payment received for $35,437 (US$27,500) has been posted to deferred revenue. Revenue recognition will commence in Q4, 2022 over a period of 64 weeks (see News Release dated January 26, 2022).