RE:RE:RE:Precarious financial situation indeedStairwayTo wrote: It has been expensed and now included in the accumulated losses or defecit of over $105,000,000.
"As at June 30, 2023 the allowance for expected credit loss on trade accounts receivable is $5,967,840 ($4,693,283 as at December 31, 2022). The amount as at June 30, 2023, includes $5,061,000 attributable to one specific customer, wherebythe carrying amount has been reduced from $10,536,701 to $5,475,701. The remaining credit allowance is $906,840 andattributable to all other trade accounts"
Saw that.
Of the 17,281,067 accounts receivable, 11,538,272 is >90 days.
Anyone know why they have such an issue collecting AR? Is it the liquidity of the customer, acceptance of product?
With the liquidity issues they have faced, its important to collect in a more timely manner IMO