So again, grain of salt with each comment made by management.
Im really amused at the comment about William Buck.
Just because someone invented an accounting method doesn’t mean the numbers are better than what they are. If cash is on hand already, claim it how you want but it does give new investors some misrepresentation on how the company is performing. $1.5M of revenue was already in hand this quarter, so they made $1.5M of new revenue.
The difference between how they are accounting it and how it could have been arranged, they continue the previous agreement on quarterly payments instead of the lump some payment. Issue with that is, they don’t have $10M on hand then, do they. So it’s beneficial to get guaranteed funds in pocket to manage. I would have preferred revenue be “recognised” last quarter and commentary about it instead of recognising revenue each quarter for the next 6 quarters or whatever.
LDX Price at posting:
3.3¢ Sentiment: None Disclosure: Held
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