"A change in revenue recognition and reporting was implemented for the 2008 reporting period. In previous years, revenue was reported in the BilltoBill subsidiary on the gross transaction turnover, being the value of electronic payments processed. In recognition of international accounting standards, the net transaction value is now accounted for as revenue by the Company."
Can someone please explain. Does the $6.7mil in reveneues infact account for the dollar value of transactions through the system or their revenue. What then does the $23k stand for.
Last 6 months to Dec 07 this business supposedly made $1.8mil in revenues?? I think they may have been very misleading indeed?
FCP Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
