RE:RE:RE:RE:2 options hereThanks good info Iam surprized people would lend 40Million cash against product over that span of time;; seems ultra high risk to me? but then do we know how much dope they will recive for the 40 million cash? like double?? thats the key here how much does ZENA have to actuall give them in product !!!!!!
Barrhead wrote: Posting again FYI...Using 'Search' for word $40,000,000 in the noted rerport....
From The Consolidated Financial Statements: Payments already stated commenced in the final uarter of 2019....
12. Customer Deposits During the year ended December 31, 2019, the Company entered into two agreements to supply dried cannabis products to customers. Pursuant to the agreements, the customers advanced a total of $40,000,000 to be applied against future purchase orders. In order to secure its delivery obligations, the Company has provided one customer with security over certain of its assets. Revenue on these agreements are recognized as the cannabis products are delivered which commenced in the final quarter of 2019. The Company expects to deliver cannabis products equivalent to the advanced amount within 12 to 24 months of the commencement of the agreements. For the year ended December 31, 2019, the total amount of revenue recognized from these prepaid supply agreements was $2,343,915.