Good run-down & dissection FG...well thought-out...
just a few comments on your questions; *They've been trying to collect on that $3.5M for a couple of years now but I surmize the entity has since gone bust (making them sue-proof)...it could still be made-right if the 12M shares they were apparently pre-paid (for the financing that 'never happened') was returned to QMC's treasury & I believe that's what SS is after at this point. *Development costs...this area is what I believe to be SS's finest work as QMC's start-up CEO. Being the wholesale (yet primary) beneficiary of the vaste resources & funding available to higher institutions [Rice, KAUST etc] by initially licensing their end-products for a song w/the promise of bigger gains should the product/innovation in-question prove successful....an absolutely brilliant leveraging technique;) *I believe the 'screen printing' facet of QMC's many avenues is being pursued in the Oulu/VTT area...they appear to be heads-&-shoulders above the rest of the world in that localized sector...& I have reason to believe Dr.J (& his co-hort Hanna Havernian) are a big part of it. *From what I've been able to determine, the previous auditor & CFO have to sign-off on any filings in the transition from the old to the new company auditing administrators...theoretically giving 3rd-party witness that no hanky-panky has taken place in the books during the transition. As Bill (Crunch or Rip[?]...can't recall which) pointed-out in another post, SS is now saddled w/paying double the ususal fees to get 'all 4' of these parties to sign-off so we can get this show back on the road. And on a related question...yes; the procedural description of having a 'MarketMaker' sponsor (& maintain quotes on a daily basis) as a pre-requsite for re-listing on the BB is the correct procedure. As you might recall, the MM's got into a hissy-fit w/ Finra over some incidental fee issues & used 100's of micro-caps (QTMM included) as sacrificial pawns to exhibit their power over market forces...thru no fault of QMC's. *AND 1 last point...I got to checking "MKM OPPORTUNITY MASTER FUND LTD" & take a look at what I found...some names that we all know...just sayin'': http://www.equityhive.com/Main/Individual/InsiderSix.aspx?i=1444828 ...and... http://www.fatpitch.biz/cgi-bin/f.cgi/psp/extn/lmt_entry/cik.1444828.1024.html ...could this actually be the case[?]...if so, WOW ;)) *All-in-all , I'd wholeheartedly agree that this was the the best filing we've seen so far ;))
Mr. FG: A big mahalo to you and the others for your detailed synopsis of the 10-K. You're all really great peeps and I'm proud to be associated with you. I remain long for QMC and look forward to the future. It's a stunningly beautiful day here on the north shore of Kauai. Wish you could all be here. Warm Alohas!
Deferred Revenue you asked? This is the definition:
Definition of 'Deferred Revenue' A liability account used to collect deposits and other cash receipts prior to the completion of the sale.
Investopedia explains 'Deferred Revenue' Deferred revenue is important because it's the money a company collects before it actually delivers a product. For example, a software company sells and receives payment for a computer program before it gets delivered or installed. This doesn't get recorded as straight revenue because, if something goes wrong with the job, the money is at risk.
Quote: -------------------------------------------------------------------------------- In addition, since revenues generated from our existing products have been modest and the products we are developing incorporate new technologies and use new installation methods, we cannot predict whether or not product liability claims will be brought against us in the future or the effect of any resulting adverse publicity on our business. --------------------------------------------------------------------------------
I guess that's it... WE'VE GOT REVENUES BABY!!! Does anyone know what the deferred revenue of $899 in the balance sheet could be for?
If I was to guess I'd say the answer to your question is those funny glowy things they call TQD's.
Every flood starts with a drop of rain, excluding water pipes breaking in your house.
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