Revenue by not paying the bills??
As of September 30, 2014, our current liabilities exceeded our current assets by $7.89 million
This means as I interpret it, is that the company is still insolvent.
Company shows:
Accounts payable write-off (1,672,820) << this is money they owe others and decided not to pay it.
Company then shows:
Other income 1,672,820 << by deciding not to pay people what they owe them, they now claim this as revenue.
And then claims 1500% increase in revenue.
There revenue is actually (by my humble calculations $247,501
All of a sudden their interest and finance charges went down $175k for the quarter.
All my opinion, my interpretation could be wrong
