Hiya Esquatcho, wanted to slightly correct my response to your earlier Q. I made a couple errors about invoice terms + the revenue recognition criteria. I was going over the FY20 annual report again (trying to calc coming Q1 potential revenue); Pg 40 for Financial Statement definitions:
a) "Customers obtain control of the HIV self-testing kitswhen the goods are ready and released by QualityAssurance (QA)" and "Invoices areusually payable within 30 to 75 days, dependent on thecontracted agreement"+
b) "Where sales are made to customers on an OEM basisfor use in their own test, including for COVID-19, revenueis recognised at the point transfer of control" and "none of the contracts permit the customer toreturn an item, revenue is recognised for all the goodsonce the goods have been released by QA and areavailable for collection"
For the remainder agreements, as I said earlier, the point of sale would be needed for 'revenue %' or 'revenue' recognition. eg: any HIV tests that AT1 retails directly, it should count them as "Receipts from customer" only at time of sale.
