OTCPK:MEDVF - Post by User
Post by
deepoil0808on Apr 05, 2022 2:46pm
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Post# 34577756
Careful of ACCOUNTING ENTRIES
Careful of ACCOUNTING ENTRIESI truly feel sorry for all of the shareholders holding this stock. It is obvious by now to everyone that the future looks very bleak. I predict that in the quarter of April to June the company will barely hit $ 3 million in revenue and will show a SIGNIFICANT LOSS.
For the quarter of January to March I am expecting another big loss as I believe that there may be accounts receivable losses. It is easy to bill but hard to collect.
The fact is that with close to $ 86 million in sales, the company managed to collect only approximately $ 3 million per month, while it cost them alot more to operate so big losses, since September 2021.
I do not buy the 90 day period for insurance companies to pay. I give the comparative of a dental bill that can be in the thousands of dollars and is paid within 3 weeks at most, compared to +90 days here.
The company was verified by the regulatory department in Canada and, I imagine that it is the same in USA in California with billing and services. Who knows the result of this review.
If you want to know the truth of things, then just look at the bank account.
Numbers do not lie, PEOPLE LIE.
A person with any sort of intelligence will conclude that it is impossible to have only $ 125,000 in the bank account when you have $ 86 million in sales, it just does not make any sense.
I remember that there was another unrelated public company that operated in Canada that specialized in accounting entries to boost their revenues. When all was said and done, that company was reporting $ 40 million in revenue while the actual real revenue in the bank was $ 2 million. Eventually the regulatories caught on and shut the company down. The directors were sued and some ended up in jail.
On a positive note: Catpyjamas has finally learned his lesson that when you wish evil on others, you are only wishing evil upon yourself. I hope that he gets the therapy he needs in order to heal and become a good samartian and productive human being with love towards others.
My personal opinion,