You wrote the following: "The third quarter that you keep posting bad news about, that quarter consists of the following months December, January, and February. In those months let's see if anything big happened."
The facts are the Revenue was $24k and there was a net Loss for the quarter of $1,033,557.
That isn't a sign the company is growing.
Then you wrote:
"The Company had $24,960 in sales for the three months ended February 28, 2017 compared to $246,119 for period ended February 29, 2016. This reduction is due to inability to secure viable and less dilutive financing to effectively finance purchase orders."
But the CEO stated in the financials and on the previous contracts with Bethel - it was stated that:
"The Company’s revenue recognition policy is on a sales-basis method. The Company recognizes and records revenue once payment has been received and disposable baby diapers are delivered to the buyer.
Pre-payment Policy: All sales to our customers will be solely on a pre-payment basis. Once the order is completed and payment is received, we will place an order with the North American supplier of disposable baby diapers and arrange shipping directly to our customers. The process is expected to take three weeks to complete. The pre-payment will be recorded as deferred revenue until the delivery is executed."
And the CEO stated:
"The size of this purchase order clearly reaffirms the quality of our private-labels and eliminate the need for financing."
"with Bethel Imports paying for each consignment before shipment by Bemax. Bemax expects to complete shipment of this order in Q4 2016, which set the company on track to meet its projected revenue for the current fiscal year."
So if the CEO is to be believed in the next filing which will be the 2016 Q4 - we should expect to see at least $1.1 million in revenue.
The 10-K for 2016 is due on August 29, 2017.
IG
