GREY:WSCEE - Post by User
Comment by
chipmonk123on Aug 15, 2006 5:20am
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Post# 11226779
RE: help with 1 thing please
RE: help with 1 thing please"If it does, that means if they sold $1.0 million of product and are owed $942K from the customers for these sales"
That depends on when the units were shipped. A/R often take 60 days to collect, so if the units were loaded to the end of the quarter, it could account for the increase. They did increase the allowance for doubtful account to $20K, but that is insignificant.
On good item is that in the discussion of current expenses, they continue to talk of legal and consulting fees for acquisition due-diligence expenses. They also mentioned costs associated with evaluating financing arrangements.
Looks like the company continues to operate by paying some expenses in stock and with cash infusion from one of the directors (Comeau?).
chip