NewAge Inc (fka NBEVQ) (NBEVQ)

[NewJerichoMan]

$85M+ Run-Rate Visualized Quarterly - 2 of 2

GAAP





We can't recognize revenue until we own it.

Didn't own Coco in Q1. Gone.

Didn't own Marley in Qs 1 or 2. Gone. Caveat here is if we close early, say, June 1st then we can recognize that revenue. If we get one month of Marley, that's approximately $1M; which would put us over $20M in net revenue in Q2. Think the market would notice if we go from $10.8M to $20M+?

PMC isn't expected to close until 30 days. Let's call is July 1. Can't recognize Qs 1 and 2. Gone.

Aspen Pure Probiotics and Pedia Ade are ramped up appropriately. Most of the revenue is recognized on the back-end.

Based on this model, Q1's GAAP income would be $10.290M. The actual was $10.787M. That's pretty close.

As an added note, the company could be "baiting" the statements for an epic Q2. Revenue recognition is a funny thing. It can be "adjusted" at will.

Marley owes us a $1M management fee. We don't know when it was recognized, if yet. We don't know if it'll be recognized all at once or pro rated.

Xing has a PL deal that started shipping in January of Q1. No mention in Q1. Was it recognized in the Q1 results or was it pushed into the future. If into the future, that further slants the results to Q2.

Xing has a Chile / Jumbo deal that started shipping in March of Q1. No mention in the Q1. See above. If slanted toward Q2, all the better.