They do include R&D as revenue in Note 4 of the June 2019 half...

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retiredyoung

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08/10/19

10:22

Post #: 40768740
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Originally posted by Senseightynine: ↑

If claiming R&D as revenue for their performance share rights targets was problematic then perhaps investors should have heeded that and avoided the company. However, the Prospectus states that other income is included as revenue for the sake of meeting revenue targets.

Again another lie, nowhere does it say this in the Prospectus. You are misquoting an accounting policy on how and when revenue is recognised and quoting it to say that this is specific for performance share target milestones. This is wrong and a gross misunderstanding of basic accounting concepts and grasping at straws.

Your entire final paragraph is essentially null because ISX have not said that they made the milestone by $1347, they said that even if OM's incorrect assumptions about what constitutes revenue in this situation were correct they still met the milestone so it would be irrelevant. Apparently you missed my quotation so I will repeat it again for you.But ISX have proved that the assumptions are correct, that R&D isn't revenue, because in all subsequent financial reports they have not included R&D in total revenue? They only included it in revenue that 1 year where they met the performance hurdles. So either they are wrong now in how they are applying accounting standards, or they were wrong then.

ISX said R&D is revenue for the sake of performance rights VERY CLEARLYNope, they haven't. In fact, the accounting standards very cleary say that non-recurring income from sources that does not come from continued operation and sale of goods/services is not considered revenue. This is where I think the auditors of ISX have stuffed up and ASIC may look into.

I appreciate you may not be educated in this field so I won't give you a further hard time about your gross misunderstandings, misinterpretations and deceptive posts.

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They do include R&D as revenue in Note 4 of the June 2019 half yearly:

ISX Price at posting: $1.07 Sentiment: None Disclosure: Held
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They do include R&D as revenue in Note 4 of the June 2019 half...

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