Decision Diagnostics Corp (DECN)

[loanranger]

" I do like that the shares were issued in the June 30 quarter, yet as of the filing this week, they were still waiting for the payment to be transferred which was coming supposedly in 10 days. It's a month and a half after June 30 now!!!!! "

Here's the actual language:

"During the quarter ended June 30, 2017, we issued 370 shares of preferred series “D” shares for subscriptions
receivable of $3,250,000. The subscriptions receivable has subsequently been received in full. The cash related
to the subscription receivable was received by the investor from China and is currently held by the Bank of
Spain. Release is expected in about 10 days, will immediately be rendered to the company by the investor’s
agent."


One needs to be careful when assessing the time reference point that management intends when they use a phrase like "Release is expected in about 10 days" in a filing. Sometimes when reading Management Discussion and Supplemental Disclosure report text we must assume that the reference point is the date those reports are created versus the period ended date of the financials. It's not clear from the report itself and its not the first time I've run into the issue. "In about 10 days" could have been intended to mean August 14 plus 10.
Of course unless we're provided with a PR announcing the receipt of the funds we won't know until mid-November whether it happened or not.