I also am a Chartered Accountant bc and agree with all your commentary. A receipt is a receipt and one banked forms part of a cash flow statement even though its character/classification may be uncertain.
The uncertainty that makes everyone possibly correct here is if IQ Boost sales were banked into the trading account (and thus must be in the 4c) or whether they were banked into a separate trust account. A trust account/holding account could be a very likely situation here as if the goods are not delivered there is in fact no sale and the money held represents a mere refundable deposit.
None of us know how the nature of Nuheara's banking arrangements, thus we can all speculate.
I can only suspect the $1m banked in the March quarter relate to non Boost receipts deposited from prior period and current period sales. Assuming this to be correct, the next quarter's cash flow statement will include the transfer of funds from the deposit/trust account to the trading account, and include sales of both IQbuds and IQBoost.
If the above were not true, the low "receipts" figure is at odds with the indication of "overwhelming pre-orders" from Justin in early April. This view would, as a minimum, hint to be misleading the market. Yet Justin's track record would suggest nothing could be further from the truth. He seems a very conservative guy.
I look forward to the next 4c where receipts from both products will be correctly reported.
GLTA
NUH Price at posting:
9.3¢ Sentiment: Buy Disclosure: Held
(20min delay)