On4 Communications Inc (ONCI)

[zombywolf]

Garbage in, garbage out is what happens when you input false information in the first place and expect valuable true results to come from it. Your numbers, along with other similar attempts, assume a 100% collection of posted "sales revenues" from our Stevie. That has not happened in the two years he has been here. For 2017, the posted revenues were $1.6MM and only $212k of that got paid. Add 3 months to that to 1/31/18, and a little more than $180k of that remainder was collected. That leaves well over $1.2MM uncollected from 2017 and all of it is over 90 days in arrears- a ton of it 120-150 days and more. That is revenue that isnt going to be collected. When auditors get done with him, all his years here will have to be restated to true revenues- maybe 20% of what he claims. Of course, no audit will ever happen because of the way he accounts for revenues- no allowances for unsold and returned product. He operates like a consignment sales company stocking shelves in dealers and not getting paid until the product sells. That he doesnt account for it that way doesnt change the fact that is what he is doing. Gullible investors and no auditing, and being an unregistered stock, lets him get away with it. For now.