![](https://investorshub.advfn.com/uicon/237920.png?cb=1466062579)
Tuesday, January 26, 2016 10:26:01 PM
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=147136
3. Deferred Revenue
In June 2015, the Company entered into an exclusive manufacture and supply agreement with Rodney Peterson or his designee, Rocky Mountain High Canada (RMHC) for distribution rights to Rocky Mountain High Brands in Canada. Under the agreement, RMHC was required to pay the Company $500,000 before June 30, 2015 and submit an additional $150,000 prior to the production run for the 1,000,000 cans of product covered under the agreement. The Company received the $500,000 prior to September 30, 2015 and anticipates receiving the additional $150,000 by November 30, 2015.
Once the Company has received the final payment of $150,000 and has met its obligations under the agreement to produce and ship the 1,000,000 cans to RMHC, the Deferred Revenue will be recognized as Revenue on the Profit & Loss Statement.
The lies never end in this POS scam
FEATURED POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM
Bantec's Howco Short Term Department of Defense Contract Wins Will Exceed $1,100,000 for the current Quarter • BANT • Jun 25, 2024 10:00 AM
ECGI Holdings Targets $9.7 Billion Equestrian Apparel Market with Allon Brand Launch • ECGI • Jun 25, 2024 8:36 AM
Avant Technologies Addresses Progress on AI Supercomputer-Driven Data Centers • AVAI • Jun 25, 2024 8:00 AM
Green Leaf Innovations, Inc. Expands International Presence with New Partnership in Dubai • GRLF • Jun 24, 2024 8:30 AM