west trader57>"Does anyone have an explanation for this because I am confused."
I think you are supposed to be confused.
They are mixing up terms, which makes it hard to get a clear picture.
The Chairman's letter says "June 2017 - $833,530 per month
revenue forecast" (my emphasis). "Revenue" sounds like "sales" but it is not. "Revenue" is total income, including tax rebates, equity sell offs (e.g. Lind) and any other money brought in to the business. That forecasted revenue for year 2016/17 of $4.4m would include the money Lind give them, and you might notice that $4.4m in one year is very close to half the $8.6m valuation of the 2 year Lind agreement. Coincidence?
"Cash received" is actually the number you want to pay attention to. It is also known as "receipts," and that is the $58K number. That is sales from paying customers. The Chairman's letter does not mention forecasted receipts. This quarter's receipts are less than a third of those of a year ago (they were $182K at 31/3/15) so perhaps he is wise not to attempt such a forecast for next year.
One more term to watch for in the future might be "billed." In that Chairman's letter he says they billed over $200K last quarter via the partner program. Impressive number? According to the investor presentation of last month (pg 19) the licencing fee is split 70/30, with the partner getting 70% and IWG getting 30%. 30% of $200K is $60K, so $58K of sales fits.
