The collections are atrocious.
Here's a roll forward of the accounts receivable account balances from 10/31/2016 to 10/31/2017.
These numbers are all from the FINS.:
A/R @ 10/31/2016 - -0-
Samples - -0-
Billings/Sales in 1Q - $55,500
Collections - ($55,500)
A/R @ 1/31/2017 - -0-
Samples - -0-
Billings/Sales in 2Q - $307,750
Collections - ($104,500)
A/R @ 4/30/17 - $203,250
Samples - -0-
Billings/Sales in 3Q - $533,000
Collections - ($52,033)
A/R @ 7/31/2017 - $684,217
Samples - $18,500
Billings/Sales in 4Q - $782,855
Collections - -0-
A/R @ 10/31/2017 - $1,485,572
========================================
A recap of A/R for 12 mos (to simplify things)
A/R @ 10/31/2016 - -0-
Samples - $18,500
Billings/Sales for the year - $1,679,105
Collections - $212,033
A/R @ 10/31/2017 - $1,485,572
========================================
So from the above recap for the 12 month ended 10/31/2017 (in red), we can clearly see a collections issue. They billed $1.6 mil for year but only collected $212k. The collections in the 3Q & 4Q were just awful. 52k collections on $1.3 mil billed. Wtf!!! This is why (I speculate) they were unable to make that first payment to Cogosense due 10/1.
As always. JMO
$ONCI
Market Data 
Markets 
AI
