RE:$40m revenue can be done if RHT starts onboarding patients I am not sure what you are referring to Mingzhu so maybe you can give me more points of reference BUT I had looked at inventory before in their financials and always found it interesting. Here's a few historical facts which I would call 'peculiar' accounting. I do not however see them having any such amount of equipment to sell in their balance sheet, unamortized or not:
:
1) During the year ended June 30, 2019, the Company transferred total inventory valued at $3,170,791 to property and equipment for "biometric monitoring devices (ForaCare D40g cellular blood glucose + blood pressure meters) provided to the patients that are onboarded onto the Company’s iUGO Care technology platform."
In 'PROPERTY AND EQUIPMENT' they stated Monitoring Devices had unamortized Balance at June 30, 2019 $3,170,000 and at Dec 31 2019 the unamortized Balance was$ 2,856,000. They sold some equipment.
2) Funny thing, by June 2020 they transferred it back to inventory when the figure was $1,093,000 and accounting treatment changes to a working capital adjustment and not amortization thru the P&L, so you only see this in the cash flow statement.
3) At June 2021 Inventory was $144, 597 (quite peculiar this was different from the figure for June 2021 shown in latest Financials for of $545,766) and was $136,054 March 31st 2022
No, I am not sending this to IR.