kiril - where to from here, page-51

mai chai.. kiril.. or others that shall be attending agm etc..

me bit confused about last couple of posts above.. it comes down to accounting practice me thinks.. if orders have been received and work being done.. one would think sales would be booked regardless of timing differences of cash inflows or outflows.. PROFIT is calculated on income versus expenses.. not cashflow... this quarterly coming up wont show quantifiable profit data as that is only evident in half yearlies or end or year reporting..

income is booked wen contract is agreed on isnt it? or not? i guess depends on nature of business and expected timing involved to provide a product or service.

in the history of INT to date.. many fancy words been bantied around in asx anns about MOU.. order.. deal.. agreements etc.. estimated timeframes.. but not too often the term CONTRACT so far.

most investors are confused cos if u add up the history.. of what was stated as future income.. and then look foward at actuals.. they have yet to ever marry up so far.

To me.. this is the ONE reason and one reason only that share price has sat low even tho we have had a string of great anns lately this calendar year.

the next quarterly report is a cashflow based report.. so i presume profit is actually occuring now.. albeit on there safe expectation that debtors will follow thru with cashflow injections and pay their bills..on their terms of payments for jobs completed or part completed etc..

its been ambiguous to date for me to read asx anns stating 'ORDERS' .. and not be sure if thats a solid contract or bookable sale in accounting terms.. words like 'order' 'MOU' 'heads of agreement' etc.. are grey ones to me and i suspect others following INT.

id appreciate a lil more clarification in this presentation ur speaking about mai chai.. about their timing and processes of actually booking SALE to income line in accounting reports? and is an ORDER a bookable sale in the books? or is it loose agreement ? what do they deem it as etc at time of such agreement with a customer?

EG: if they make contract to install 2mill bucks worth of goods and services in say 1 year timeframe.. is that recorded in sales line at time of order? or after money received? job completion? partial job completions?

im interested in how they do such things. cos words used loosely such as ORDER over 5 years etc.. how is an investor to decipher timings of sales bookings in actual financials?

this commentary is an addition to joewolfs i think.. where if u have and show targets and plans and accountabilities etc and more disclosure to ur holders.. we will be more up to speed on the nature of what the buisness and mgmt is doing.. giving us the data we need to make wiser investment choice in relation to supporting the business or not.

anns like 'we have signed an agreement with so and so for UP TO 5million buks over x amount of years.. is like Pis*sing in the wind to me.. shareholders deserve more accurate announcements i feel. great u have made some agreement.. whats the tangible and contract amount. sure then tell us the further negotiable and extendable potential. otherwsie to me u have not signed a contract at all and are gasbagging somewhat.

if any of u big wigs can address this further id appreciate it.