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The inventory check so to speak is probably for the audit firm to review (audit) the reconciliation of the physical Inventory (PI) to the General Ledger Inventory balance as of 6/30/17 which was prepared by AMFE Accounting Dept. Generally with a company this size that review takes about a week.
Typically one takes a PI at the end of the accounting period , 6/30/17 in our case . The Audit team observes the PI to ensure the count is accurate and verifies the inventory exists. Subsequently a reconciliation is prepared reconciling the actual inventory on hand (PI) to the inventory balance in the General Ledger which basically reflects the balance or net of the inventory received and shipped, plus or minus any adjustments made during the accounting period under review.
I suspect the Audit report is completed waiting on the final review of the inventory and review by Management. After agreement on the Financials the audit firm issues it's certified opinion, the report is issued and AMFE is good to go......
Ben is healthy now. Unless he gets hurt this Sunday, he'll be ready to go.
We'll find out Dog. Steelers play KC in Arrowhead 10/15/17.
That's what I thought. I bought NECA and a few days later I got out after thinking that NECA and the Canouse’s are not the people or company I want to invest in.
Nice post Instatrader. Thanks for the update.
Is that like the Governor in the States?
LOL. The English Everly brothers, eh . Actually I was thinking maybe Matthew, Mark, Luke & John. These guys can't sign though. :)
Maybe he is one of the 4 sales guys prior to the PR of 16 new ones. Do we know who are the original 4?
That's right . I overread that ending comment. Thanks.
I was just going to ask that.
Don't know but you are not allowed to touch the FROG...... in any way. hahaha
Great point A/B. I did not think of that. Of course an interested Franchisee would want to see audited Financial Stmts as part of their DD before forking over a franchise fee & making other commitments.. Just as S&L would do their DD on the franchisee's financial stability.
Right on Rocket. I'm glad my city is in Wave 4. That will give me time to build up enough capital through AMFE to bring in a S&L franchise for my kids and myself to run & operate.
Thanks. Since he lives in Canada I thought he was sending before & after pictures of S&L 3. However, I do appreciate pictures of the AS reduction.
Sorry, no pictures included.
MIKE22CA Member Level Friday, 09/22/17 02:52:24 PM
Re: Goodbuddy4863 post# 57745
Post #
57753
of 57756 Go
Before and after, hope the pics are good quality
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Love stocks that have; Revenues, No Toxic Debts & Innovative
project ambitions.
Not true. I have Fidelity for 20+ years and trade pinkies all the time without any trouble. In fact I can sell a pinkie online and as soon I can prepare a buy online, I can buy another pinkie with the same money within minutes.
That's funny but it's true for me. Even when I don't expect anything I look forward each morning that today may be the day AMFE takes off in another bull run or we receive some expected/unexpected news like when we received the first Tweet/PR on a Sunday afternoon several months ago.
Like I said Tuna this offer is with family. I'm trying to help them out , have them be successful with AMFE and spread the word. Surprising my sister turned me down because in her only other encounter with the stock market she lost $600 and is concerned she'll lose her money which in my scenario she won't. She would have doubled/tripled her money by now, but you can lead a horse to water.........
Glad to hear from you and that u are OK.
Heck to a few family members I guaranteed $0.25 or I'll buy the shares at $0.25 by 12/31/17. So they have nothing to risk or lose.
100% agree. Without certified audited financials anyone could have made up the financials. But with certified financials we should fly. Uplist & access to deep pocketed investors,banks, brokerages etc,,,, will be right around the corner.
I promised my contacts/friends etc... $0.25 by 12/31/17. I also think AMFE will be there much sooner than that though.
OCNI's Steve B. is from NY not Ohio.
Ur preaching to the choir man.....
You may be right abt the Cineplex connection price benefits may have come a day later than a lot of posters, myself included, on this board thought . I was expecting the stock to increase yesterday, but I'm happy for the increase today.
Last weeks last tweet:
Amfil Technologies? @AmfilTech Sep 14
More
Good evening. News will be released before open Monday. An additional update regarding franchising will be released later in the week.
9/14/17 tweet. "...An additional update regarding franchising will be released later in the week."
My sentiments exactly. It's a nice gift and is very much appreciated but I don't think it will move the price much. My second thought was I wonder how this will affect business at AMFE's existing locations on those Monday nights as this will be like a 4th location in Toronto and not that far away from other S&L locations. Maybe the other locations will have a Rec Room promotion tie in . However , I do feel the additional exposure from Hosting Game Nights at the Rec Room Toronto Roadhouse will be a plus.
Did I also read that the company purchased or is purchasing a 15000 sq ft factory in the Far East to service customers in that part of the world also.
I've been in the States celebrating grandchildren's birthdays recently and chasing Irma in Atlanta.Then back to ELS being visited by Katia. So, I have not stayed up to date with AMFE. PM me who you guys are talking abt because all their messages have been deleted and I'd like to ignore them also.
You too Willhoetemusic, keep the faith. We are all pulling for you and your family in Houston. AMFE will come through for you , don't worry. As you have mentioned before God works in mysterious way. Best of luck.
Keep the faith Aggie. We are all pulling for you and your family in Houston and FL.
You came to the right stock. Welcome. AMFE will be a winner, imo.
I thought the unsigned PO was for $1.15 million and the potential sale, bid/quote request from last night's PR has a potential of 2.5 times the original PO ,or $2.875. Together they amount to $4.025. million. That's the way I read it. Correct me if I'm wrong.
I don't need anymore cheap shares, thanks. I'd like to see more sales.
Always think before I post & thank you for your concern. A potential sale is not blow you away news ,IMO. A sale of $2.8 million is blow me away news , again IMO.
Laughably agree...
Sorry what you're saying is BS. Product needs to be shipped to be recognized as revenue. Agreements signed are nice and may have a legal consequence but there is no transfer of title until shipped. Thus no revenue recognized.
No. revenues can only be recognized/booked as revenue when shipped per US GAAP. Shipped before 9/30 no problem revenue may be booked. Signing date of PO is irrelevant, period. This is basic accounting principle.