There are some valid concerns regarding doing business in China through a keyman (ZZL) as well as how the company has been disclosing the financials of some big contracts.
But I don't understand some of the concerns discussed here by some. The $10m cash receipt in Q1 2019 includes $7m sales booked in 2018, due to Chinese cash end-of-the-year cash preserving practice, which was communicated by the company at the time. So taking out the $7m, the cash receipt from Q1 to Q3 2019 is around $15m, which pretty much matches the revenue during the period.
So what is fishy about this and what is all the fuss about their payment terms?
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