Q4 cash receipts, page-10

Considering receipts were $6.6m last quarter, I would hope to see at the very least a 50% improvement..

Alexicool sales were touted as reaching $2m recurring per month by the end of last quarter. This would be revenue, not cash receipts, so not received in the March quarter..

From looking through all the announcements, it looks like approx 140,000 pounds (into the bedding industry) were produced in March. In June we're looking at close to 200,000 pounds (90,000kg), which was 8 times January. April was supposed to be 6 times January, so approx 25,000 pounds in January & 150,000 pounds in April. Maybe we can estimate 175,000 pounds for May?.. For February, I've taken a stab in the dark & assumed 75,000 pounds.

The thing I'm not sure about are the statements regarding 20,000 pounds per week. I think they just never updated that, or maybe they're just talking about Alexicool only and not including the fr treatments (into the bedding industry), so I've disregarded these statements.

Anyway, taking the above into account, & assuming a 1 month delay between revenues & cash receipts (remember this is all just guess work), then cash receipts for the bedding industry in Q3 would only have been about $1.5m (based on approx 100,000 pounds of chemistry delivered in December, January & February).

Note: I've used 140,000 pounds as a baseline for equaling $2m in revenue (into the bedding industry), as per March.

So, that leaves cash receipts outside of the bedding industry in Q3 of $5.1m.. Assuming static growth there, plus 465,000 pounds delivered in March, April, May to the bedding industry, or 465/140 x 2 = $6.6m, we get Q4 cash receipts of $11.7m.. Hence my guess of $12m..