Whether it is considered revenue earned will depend on the terms of the deal and how FBR accounts for revenue.
If the deal were a prepayment for x number of Hadrians, then the accounting standard is important. If they record revenue on an accrual basis, then the revenue would only be earned once the Hadrians are delivered, but on a cash basis it would be when the payment is received.
If FBR records on an accrual basis and wants to get the revenue recorded in time to meet the milestone, then payment could be structured as an exclusivity deal, say WB paying $10m for a x number of years exclusive brick supply deal. To my mind, this could be recorded as immediate revenue even on an accrual basis.
Time is running short, but if they are genuinely able to meet the milestone without resorting to legal advice to twist the meaning of the milestone, then I'm all for it. Revenue receipts will go a long way to proving commercial prospects and improving share price.
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Open | High | Low | Value | Volume |
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1 | 263157 | 0.038 |
7 | 511850 | 0.037 |
9 | 2553212 | 0.036 |
14 | 3669072 | 0.035 |
Price($) | Vol. | No. |
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0.041 | 354783 | 4 |
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