TSXV:RHT.H - Post by User
Comment by
Gulliver1909on Dec 01, 2021 10:54am
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Post# 34184911
RE:Review of Q1
RE:Review of Q1I must correct myself. Following the 4th quarter numbers Reliq stated:
So collection is still working....
“We would like to remind shareholders that we cannot issue invoices or recognize revenue until a given patient has been on the platform for a full month, per the reimbursement requirements for Medicare and Medicaid,” continued Dr. Crossley. “As a result, the ‘revenue run rate’ at the end of a given month, which is calculated based on the number of active subscriptions to Reliq’s software and services at that time, isn’t reflected in the financials until the following month. Revenue is typically collected within 60 days of the invoice date, however during the pandemic we extended generous payment terms to our clients and were fortunate to receive equally generous payment terms from our suppliers. All outstanding receivables shown in the FY 2021 Financial Statements will be collected by the end of Q1 Calendar Year 2022 in accordance with the payment plan agreements we have with our clients.