RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Webinar It's not only a serious question, but an excellent one , and one I myself asked Glen when I spoke with him after the rush order shipping news in June . I'll give you both the answer I received and then my assumption below it. The first thing I'll say is they never said what the deposit % would be , but yes a deposit on order and balance at shipping . I'm that small cap interview he mentioned that in some cases to help out they might waive /reduce the deposit if it helped and was in all our best interest or words to that effect (look up small cap/Neutrisci to see vid).
I asked Glen the same thing when I saw that in deferred revenue or whatever they called it . Yes I was shocked because in my business (even though I rarely do it because I don't need it and have excellent history with my clients) I can simply drop material off on site and bill up to 30% of the contract before even starting (it then takes us a month to get it so not quite the same as deposit here upon order ). Basically knowing he wouldn't give me any details that weren't public knowledge I simply asked if anything had changed with the initial order since didn't make sense to me as a deposit for "multi million $ order". Without telling me % or order size he did emphatically tell me that it was a "very small" deposit and that the order was in fact as advertised ("multi million $"). Again I'm only sharing what I was told and 5% deposit would = almost $2.5 million
Here's my thought on what that means. We got the order in Jan, but we didn't get the import classification or Nevada news until March. Our assumptions was that they'd start working on the order right away, but I'm starting to think that they took the order to help get things rolling (source enough raw materials, order packaging etc) knowing full well that they wouldn't be starting it right away. Maybe just for the reasons I mentioned and maybe even because they already knew that a smaller Biople order would come first. Again these are just my new assumptions, but it would explain a few things (customers not being pissed, small "holding" deposit , and even a big chunk of what we see as months of delays )
Having said all that I think that's an excellent question to add to the Tabletz portion . Something like " we were told in January that we had a multi million $ order, but the deferred revs (assuming deposit) was quite small . Can we get confirmation that the initial order size is still a multi million dollar order?"