Accounting flip flop Is co. about to flip back to hardware being included in equipment, revenue recognized as client gets reimbursed and depreciation expense on income statement?
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During the year ended June 30, 2019, the Company transferred total inventory valued at $3,170,791 to property and equipment (Notes 6 and 12) for medical devices provided to the Health technology platform.
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On January 1, 2020, the Company transferred total equipment valued at $1,991,020 to inventory (Note 6) reflecting a change in the approach to marketing and selling the medical devices in the Company’s operations. The inventory consists of medical devices and consumables to be provided to the patients that are placed onto the Company’s iUGO Health technology platform..