Artificial Life Inc. (ALIF)

[THESTRONG]

@sfitz,

revenues in Q4 were better then in Q3 but income a little less then in Q4 2007 because of this:

Revenues for the fourth quarter ended December 31, 2008, were $6,219,343 as compared to $3,116,754 for the quarter ended December 31, 2007. The increase of revenues of $3,102,589 or 100% compared to Q4 2007 was mainly due to increased income from sales of mobile games and substantial license sales for the new business applications and mobile technology.

Net income for the quarter ended December 31, 2008, was $1,906,335 as compared to a net income of $2,199,996 for the same quarter in 2007. The decrease of net income was mainly due to the effect of a one time provision for a doubtful account of $731,500 in Q4 2008 and a one time gain from the extinction of liabilities of $685,130 in Q4 2007.


What ist interesting is this:

On December 31, 2008, accounts receivable were $13,859,315. As of February 9, 2009, approximately $548,000 of this amount had been collected.

and:

At December 31, 2008, four customers accounted for approximately 92% of accounts receivable (customer A, 49%; customer B, 16%; customer C, 15%, and customer D, 12%). At December 31, 2008, 44.6% of the accounts receivables were outstanding for less then 30 days, 0.1% for 90 days, 40.5% for 120 days, and 14.8% for over 180 days. At December 31, 2008, the average age of accounts receivable from all customers was 83 days.