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Wise assessment.
Most of the items in the post should be "not yet" instead of "no".
Cuz they are taking longer than anticipated doesnt mean they are in in progress.
When they do happen...boom!
Important fact from this post is "LOL imo".
Spew nonsense the laugh and imo....
Bred has zero knowledge of when and how many units customers have.
Go back and look at PR for yourself and you will see when contracts were signed and when initial delivery dates were scheduled for.
Preference would be he didnt say shit until item is done and ready for PR.
Dont mind tweets saying going here to meet so and so.
But no deal talk until ready for PR that deal is done. He would stay out of dog house.
Audit mess would have played out differently if he never mentioned it until it was near complete.
Sales = Contract
Revenue = % of contract delivered (250 units per month/25k revenue 1/12th of contract value)
Payment upon invoice sent and PO/Check received (based on whatever schedule: 30-60 days generally but we dont know specifics)= cash
Dealership selling to end user is not in above equation.
I highly doubt the dealership contracts are consigment based. Until Berman explicitly says they are my evaluation will be based on the top.portion of the post. Which falls in line with reported revs and 2017 PR'd deals.
Imo
If anyone "knows" the specifics of onci regarding above feel free to set me straight. Or confirm.
He doesnt...just fodder for the tactics.
investors in this stock are not ENITLED to bill of lading.
Nor audited fins.
Nor to be shown customer contracts.
Nor customer product inventory levels.
Filing of material events is all.
If anything this CEO overcommunicates - to a fault.
Try finance dept.
Not like they bring out an odb and put on the dashboard or hood when showing a car.
What guys got what how many days ago? Do you have any details at all or just making stuff up?
Millions (20-30m) of dollars of sales contracts all with various start dates.
Delivered product for many, many contracts = revenue. Record month and I would bet another record for q1 and that record will be broken in q2, etc.
Garden City would think they are a contract of consequence. As would Gunther. All the other dealerships.
All of the distribution partner contracts covering half the country and ramping up to sell the product - Those contracts are of consequence.
Revenue and expected cashflow picture should be cure to any remaining start up stage issues.
Audit is not a requirement though is a goal for the CEO.
I thought he mentioned in the past current capability of 4000-5000 per month with 1000 always in reserve. Off top of head I think this was on CC.
My guess is The Cogosence folks are making those wherever they have always made them, Aegis made them, or Zoomsafer made them or had them outsourced to be made. Though more details would be nice around the manufacturing piece.
Berdie finally acknowledging so much product is selling it could have an impact on supply which as problems go too much demand is a good problem.
Quote from Berd:
"seems to be a supply problem"
Revenue was reported at 1.8. You must have missed that - Its on otc website.
Looks like record revenue this month as well.
All deliveries have been made. Those will sell and more will be delivered. Onci will recognize more revenue and will invoice customer, customer writes check/PO. Simple process for monthly predictable REVENUE.
Nothing in that post was grounded even loosely on fact.
All good news!
The dealership is onci customer not the person buying the car.
If contract states 100k per month for x number of units. If the units are delivered by onci to the dealership. onci can recognize that revenue, send dealership invoice and wait to get paid. I havent seen any information regarding the sales to dealetships being consignment based deals.
Some contracts had Oct as initial delivery and so on.
Is it important to eventually see some evidence that dealerships are gaining yraction and selling through there shipments - you bet. Not only for shareholders but also if Steve ever plans to sell it - will need to show sell through.
Im of the mindset that the information we do have and what has been verified is worth a risk. A much better risk than many pinks.
Nobody said pay on delivery - you just made that up. Though the dealerships would get invoiced at some point after delivery then pay at some point after that.
Again, dont think the difference between revenue recognition and receiving a payment is sinking in. They are not the same when applying accounting principles.
I dont think any of us have the level insight on return policies for confidential contracts with the dealerships. Nor are we entitled to that information.
Indeed it does. Im fine spoonfeeding info if I can help just one person understand how business works.
Revenue does not equate to physical money literally in the bank. It is money that is earned by providing goods or services which could be paid for with physical money before or after.
https://en.m.wikipedia.org/wiki/Revenue_recognition
Steve did not report entire contract values or cash for the 1.8m rev number. He reported revenue that has been realized by delivering a portion of the contract to the dealerships.
Imo and the opinion of wkipedia, accountants, ceos of public companies, etc.
Glad to help.
1.8m for 2017 as reported. Which was up 50% from q3. Pretty impressive.
Q1 should be even better.
Plenty of contracts and sales. Many have been disclosed with initial delivery dates. When the product is delivered that is recognized revenue. Thats a fact.
Post a link to show pink stocks are required to have audited fins? You cant because they are not. Onci is current with all requirements.
Start up company getting rid of debt...mostly incurred from previous management. Fact.
Ready to go up imo.
Good thing rev growth is outpacing the debt and soon so will profits.
No trips...time to move up!
Could you let us know the % gain from its low.
Guessing a lot more than 90%.
The whole story is more credible than cherry picking.
Many of us are still up big time.
3rd party verification of deal closed - might have to strain and scroll to actually find valid info:
http://www.valitascapital.com/blog/posts/canadian-market-recap-week-ended-september-15.html
Another 3rd party:
https://www.google.com/url?sa=t&source=web&rct=j&url=http://vistapointadvisors.com/wp-content/uploads/2017/10/Software-Update-Q3-2017.pdf&ved=2ahUKEwi9tanl97zZAhXLmeAKHTPWAYE4ChAWMAN6BAgBEAE&usg=AOvVaw0YjmGIzNJLNjPYi-UOUnnE
Another:
https://www.google.com/url?sa=t&source=web&rct=j&url=http://www.sequeirapartners.com/wp-content/uploads/2017/10/The-Well-Street-Journal_Q3-2017_final.pdf&ved=2ahUKEwi9tanl97zZAhXLmeAKHTPWAYE4ChAWMAR6BAgDEAE&usg=AOvVaw3pbj8L3LVvJd-IhOpuRXxw
Could they all be in on the scam...probably not.
Just a tip...google is a great tool. I would recommend it to all instead of being spoonfed garbage.
Another distribution deal being locked up.
As I've said in the past these distributors would not waste there time signing a contract if they didnt think they can make money. Some distributors want to see proven sales which We have with the dealerships. This is fact the trolls cannot dispute with any facts - though they will try will whining.
Just a matter of time before revs solve any issues that have come up.
Q1 and Q2 should be huge. Current pps is a gift. imo.
Missed the link where audit was requirement for this ticker...did you forget to post it?
Did you have any documentation this is a scam?
Ohhh. You added "imo".
1.8m Revs looks good. IMO.
Wouldnt be surprised to Delaware issue resolved quickly. Cash should start coming in from all of the delivered product associated with the the many contracts.
Looking good to add at these prices.
They are "real" because the ceo has reported them and there is no proof otherwise. Until then they are real.
I missed where pink stocks were required to have audited fins - anyone point me to that regulation or maybe provide data on how many pinks have audited fins? Folks acting like this stock should be judged like blue chips are funny.
The un-audited Q3 numbers had much to do with pps getting close to .02.
Its risk/reward for potential of product, market size, revenue growth and execution. First 3 are solid - audit communications could have been handled better.
Signed contract and product delivered = revenue recognition for the portion of the contract completed.
Right.
Some are judging this like its on the dow.
Right, for the distribution agreements its potential sales.
For the direct to dealership, middle east taxi companies, etc. Those deals imo are not front loaded contracts. When product is delivered ONCI revenue is realized then they invoice and collect cash.
So with the rev numbers reported they more or less jive with contracts reported early enough in 2017 (ending 10/31) to be signed and shipped.
What we have go by is pr'd deals and the financials that were released. And the explanation of the Deleware thing.
If cash starts rolling in from outstanding invoices it could turn the momementum from the company finances perspective - so cash collected catching up with realized revenue from shipped product. If this happens pps should follow suit. If the invoices for some of that 1.7m rev get PO'd and onci collects then Delaware could turn out to be less of an issue.
If Berman can show dealerships are actually selling through and getting the monthly deliveries that would go a long way.
For otc high risk start up I think it is worth holding to see what happens.
Onci got spanked hard and we will see how temporary it will be.
I would also rather have shares than not until it is confirmed all bmw, ford, enterprise, etc. are dead or alive. Doesnt make sense to say gm and qvc are dead if trying to scam. But product changes for ford and bmw are underway - Maybe Mr Williams of cogosense could clear that up. None of that makes sense for a scam.
Q1 and Q2 could be better than expected.
Imo the grass roots sales of this product should be for teens and parents in partnerships with drivers ed providers and any regional or national drivers ed groups that exist. If they are paying hundreds for drivers ed course then add another 100-200 for bsafe to be included so mom and dad can help control little johny and jenny from killing themselves or someone else.
Z - On their own the agreements with the following open the door to all the customers they have relationships with which is positive.
Cataclean
Scully Lemoine
Capoli
US Warranty
I dont think Berman or posters have communicated those entities have sold anything yet. I have a hard time believing that wouldnt have told Berman to piss off if they didnt think they could peddle bsafe and make some money.
Again, the above agreements which have been verified are positive for the company and hopefully pps at some point.
I cant wait to see updates when the above get some traction.
You are seeing correctly!
Yet.
If the changes are done to their liking would it make sense to have a piece of the action or miss it.
I wouldnt be surprised if automaker goal is to have the device integrated with vehicle as opposed to something that can be easily removed or worse removed during service/repairs and not put back in
To reach the pount of signing on dotted line could take long time.
Only 15-20k dealerships left in US alone.
Should be plenty for Steve or Capoli, or Scully Lemoine or US Warranty to meet with.
Good to point that out.
Then there is global....when valuing a company market size for a start up it is pretty important. Market size is only every vehicle currently on earth and the ones not yet built.
Oh and retail and commercial applications...another couple boxes checked.
But when it is confirmed next week or next year. Sky is the limit.
Ginormous global market ripe for our products.
Global distribution agreements.
Dealerships locked up with more to come.
All this and marketing has not even started.
Gonna keep growing fast.
I totally think Steve has work to do to fix confidence in Steve and I am in the camp that tweeting audit on 1/31 and not delivering is a lie. Thats the stuff he needs to clean up.
I cant see the dealerships, distributors, etc. signing these deals if they didnt see value in the product.
Hopefully sales will cure pps at some point.
Again realized revenue that can be reported and cash are apples and oranges.
As another poster mentioned earlier cash collected will continue to rise in future qtrs.
If on4 ships 100k of product. then 100k of rev is recognized. customer would get invoiced and pay on4.
So if on4 delivered 800k of product in q4 then they realized it. Simple concept.
Spot on as usual!
Yup...looks like the trend is pointing north.
Hope everyone is still buckled up!
Way too much positive things going on with the company. Ticker will rebound.
Pps got spanked due to audit being postponed. Nothing has changed with consistent sales growth. Adding distribution partners and potential deals with big names.
Time to head back up.
If the booked contract is for X number of units/dollars per month for 12 months. Of course he should report the contract value.
Just as General Dynamics would report a 10b submarine deal. They dont get that 10b the day the contract is signed - could take years. But if GD delivers 1b worth of product or service in the first month then they realize that 1b in revenue even if they dont receive a check for another 30 days.
Revenue recognition is a simple concept.It would serve folks looking at onci to get familiar with it.
Fact is we dont know the contract language. Without that it is speculation.
I would bet the total contract values for sept/oct. pr'd deals was not reported as revenue on the fins that were released.
Steve goes out of his way to let us know when initial deliveries will take place. Easy from that point to estimate when revenue and how much will be realized.
Now if the contracts are written for 1 delivery of 100k and Steve embelishes by assuming an additional 11 deliveries that are not in the contract - that would be shady. Dont think that is happening here.