Ann: New Premium Australian Brands Signed up to SMA WeChat Market, page-19

In reply to Stratovarious; sales receipts and placement proceeds are two completely separate items. I agree that SMA's financials are often confusing (perhaps by design) and it's difficult to get a clear picture of their situation, but they still have to follow strict reporting guidelines - they cannot combine these two items.

I don't recall giving the Appendix 4D notes a proper read until now. Note 5 does reference the revenue figure (it included a ~$300K R&D tax offset), but Note 6 is very important for the upcoming Q3 report:

6.TRADE AND OTHER RECEIVABLES
Trade and other receivables include an amount of $2,786,647 owing by Chinese state owned telecommunications providers.

The company is confident of collecting these receivables and consider these as a minimal credit risk given the parties from whom the amounts are receivable. Accordingly, no provision for impairment of receivables have been raised against these balances.

The company will continue to liaise with the Chinese telecommunication providers in respect of the payment of these balances which are expected to be recovered in the second half of the financial year.