Datametrex AI Ltd V.DM

RE:RE:RE:dm-Debt free with Liabilities over 10million

[inviolablspirit]

"Tankumo - Do you not understand that debts can take on different meanings.?"

Clearly, astutein you're the one that doesn't understand that debt can take on different meanings.  

Yes, taxes are a type of debt, but taxes will always be owed by a company.  It's not a debt in the same sense in what most people would considered a "debt".  

Accounts payable is also a type of debt, but again not in the same sense that you are trying to portray.  That is money paid to a vendor in order to pay for a product that you sell to make more money than you owe. This becomes revenue!

Then there's deferred revenue, in which the company has paid for product that they have not yet received.  Sure this is also a type of debt, but again not in the same sense that you are attempting to portray.  This also turns into revenue as the company will make more money on the product than what is owed.  

I did look at their financial statement and there is a section called "debt" and it says $30 000.  Here is what it says about that loan:

Unsecured Canada Emergency Business Account funded by the Government of Canada. During the year ended December 31, 2020, the Company obtained an $80,000 loan under the Canada Emergency Business Account Program. If the Company repays $40,000 by December 31, 2023, the $20,000 balance will be forgiven. Otherwise, an interest rate of 5% will apply to the balance, which will be repayable in 24 monthly blended instalments to the maturity date of December 31, 2025. Since there was reasonable assurance that the Company will repay $40,000 by December 31, 2023, the Company recognized $20,000 in profit or loss when the loan was granted, which is presented in profit or loss as government grant.

So I guess you can call me an idiot too because I have to agree with the other two that responded to your comment.