The more I look at it the less convinced I am this is the case.
If you are correct then sales revenue from the company is not very good.
The outlier to your case is the December 17 quarter. GSW advised of Revenue of $321,014. Interest received, as per the 4c is (15k). That's negative $15k.
If your theory is correct, then revenue directly from Sales over the 6 full quarters has gone
$117k
$133k
$191k
$336k
$175k
$231k
Still of the same opinion?
Their own revenue recognition statements don't support your theory, especially when comparing deliveries to revenue in each quarter.
Is IR very responsive to enquiries?
Ann: Appendix 4C - quarterly, page-65
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