As an accountant, revenue can only be recognised when all 3 conditions below are met.
1. Work/transaction done = No
2. Amount of revenue reliably measured = Yes
3. Likelihood of collecting funds = Yes
So the prepayment from Yuhua of 80%, will be a liability in the balance sheet, until we deliver the spod.
Regardless, we'll be cashed up to explore, drill, and increase our production
Banter and general comments, page-24320
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