Will sales contracts turn into sale receipts?FACTS:$1.5M sales...

Will sales contracts turn into sale receipts?

FACTS:

$1.5M sales contract signed with Inviro Amimal Health Solutions in 2nd half of 2004during the time of capital raising. Sales receipt from negligible for FY ending June 2005. Chairman stated client willing to take late delivery of the $1.5M contract and all news went cold after the NEW $1.4M contract was announced.

NEW $1.4M contract signed with Inviro Animal Health Solutions just in time to satisfy the Mizuho sales covenant. What does the 2005 accounts showed? Sales receipts April $12K; May $29K June $0; July $28K.
The Chairman stated a WHOLE container load of products had been DELIVERED at the AGM but the accounts showed close to ZERO receipts for the container load ($31,000 in Oct, $ZERO in Aug, Sept, Nov & Dec). It was reported that the NEW $1,4M contract was not financed by CMQ. So where is the sales receipt for the container load?

What is the stock of antibiotics in hand? The excuse for lack of sales was the lack of production capacity. In the AGM, production capacity of XX1 was announced to be manufacturing products consistently at 55% nameplate capacity and “840L in the warehouse and 17,360L in normal approval process”. This production capacity at $1M per tonne (This price is supposedly obtainable for the product) is more than capable of satisfying all outstanding supplies to Inviro Animal Health Solution, so where is the sales receipt?

What should we make of it IF Inviro Animal Health Solutions signed another mind-shattering contract? Should we be excited? IF the accounts show more than $2M sales receipt from Inviro for the 2 confirmed GROUND BREAKING (Borrowing this term from CMQ’s announcement!) sales contracts it should excite shareholders more than a mind shattering new contract. (my opinion only).