They say it is “generally” terms of 30-90 days, yes. But whilst they report US$4.83M revenue reported for the six months ending 30 June 2022, for the nine months ended 30 September 2022, only US$1.55M receipts from customers has shown up in the quarterlies. There is at least US$2.50M in receivables at 30 June 2022 which didn’t appear in the September quarter. So what, over half their revenue is on credit terms longer than 90 days? I doubt it, otherwise they couldn’t say “generally”.
I’m genuinely interested in getting to the bottom of this, because it seems strange to me they can report a revenue number which is quite disconnected from their actual customer receipts, and then have a large amount of receivables sitting on the balance sheet, which appears to now be well outside normal credit terms, and them also admitting they have made no provision for bad debt.
So to my mind, the December quarterly will either see most/all of those receivables flow through as receipts, or the mystery will deepen.
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