On4 Communications Inc (ONCI)

[zombywolf]

I am making the call now- there will not be an audit while Steve Berman is involved with this company or the bogus Hexagon. Q's facts about collections vs sales confirmed my suspicions that Steve has cooked the books. Its not hard to collect from the majority of decent companies by just sending invoices. I do it all the time and only have issues every once in a while, not 75% of the time. He collected maybe $200k on $900k of billings noted on the 7/31, by the 10/31 report. It could even be more billings because of some done in Aug 2017.That means either the sales number is overstated, or close to 75% of the product shipped has been returned. Whichever one is correct is big trouble for Steve. An auditor will quickly find out which is correct. Steve cannot let that happen, so there will always be some delay to excuse auditing. There will always be something Steve will produce that he says pushes the audit time into the indefinite future. The call is made, now watch and learn.