The wait is over!, page-28

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brydos

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02/09/20

13:53

Post #: 47022899
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Originally posted by Pman: ↑

Hi A

On the release there is nothing in there, which seems odd.

Launched in May that is at least all of June to trade or manufacture and deliver product. But the segment and Balance Sheet show no inventory or sales.
Revenue cannot be recognised until the contract is for-filled. So if a sale is made, a product must be delivered. Does not mean you can't get the cash in, just means you need to give the customer the goods.

Now they are not the manufacturer, then no product was delivered to their warehouse. As taking ownership would mean some stock.
So possibly the manufacturer delivers direct (so why do they have the warehouse in china) and has not reported in time for the financials (hard to believe as it is 2 months later and that information can be used post June as it relates to June) or immaterial and the auditors said do not worry about it.

odd

Did anyone get there product before June?

As for the deal, as much as we have been done over and IMO the power shakes guy would have been preferable. Why I say that is the previous deal was set at 30c buy in, this deal they did us over at 10c. Anyway it is now done and the board and the mates are now set and will safely control the voting. Lets hope they don't go down the path of Glyn and hand out bonus shares for doing nothing.

Got to remember they held back PG new deals until after we had been taken offline which was always going to hurt cash-flow.

It was always about setting themselves up before anything would kick off.
Now that is done lets see how it goes.
First target is cash positive before any strong support will come. No guarantees but they have people in charge that know industry and have connections that can make it happen as apposed to Glyn who was way out of his depth.

Now comes the question what will they be satisfied with as an exit price. hopefully 10x would be worth the effort.

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Bang on @Pman. Appreciate the report is preliminary. A brave auditor who signs off on those Devices numbers, hope they have their insurance up to date.

OBJ Price at posting: 18.0¢ Sentiment: Hold Disclosure: Held
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The wait is over!, page-28

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Orthocell shares jump on record revenues from sales of collagen bone repair devices globally

Spartan sniffs 126g/t gold ahead of resource upgrades at WA's Dalgaranga

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Scandium a priority metal for Sunrise as it plans feasibility update at Syerston

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The wait is over!, page-28

Top Stories

Mesoblast resubmits US FDA application for approval of Ryoncil in children with graft vs host disease; shares dip -4%

Orthocell shares jump on record revenues from sales of collagen bone repair devices globally

Spartan sniffs 126g/t gold ahead of resource upgrades at WA's Dalgaranga

Patagonia looks to raise $2.15M for South American exploration and development

Scandium a priority metal for Sunrise as it plans feasibility update at Syerston

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