On4 Communications Inc (ONCI)

[MoneyForNuthin]

I'm glad you added the statement: "All this is IMO," but I don't agree with the last part "...but since it's from On4's filings, disclosures, shareholder letters and tweets it must be true, right?" No, it's NOT from On4's filings.

Where is it actually stated that "Payments are contingent upon a dealership actually selling a unit."? Right, that's NOT stated in the filings, disclosures, shareholder letters and tweets.

Where is it actually stated that "When a unit is sold the dealership has 30 days to pay On4 and they must submit proof of purchase in order for On4 to then pay the dealership their commission."? Right, that's NOT stated in the filings, disclosures, shareholder letters and tweets.

How in the heck would you know the pyament terms, anyway? And what gives you the idea that it would be 30 days?!? Let me tell you, in the market these days, ANY product like this, going into dealerships, is most likely to be MUCH better payment terms to the dealers than the old standby 1 - 10 Net 30 terms (1% discount is paid within 10 days, net amount due within 30 days). It will, IMO, be more like 2 - 10 Net 120 or even 180.

The company has stated in the financial reports what it has to show. Until/unless someone can prove otherwise, these are the facts that we have to work with. If anyone has new, un"report"ed facts, let's see the proof. There is NOTHING in the ONCI reporting that goes against the law, SEC rules or OTC pink reporting convention.

Total lifetime sales since early 2017 is $3.7 million.

Total A/R as of 4/30/18 is $3.2 million.

What exactly are the terms of sale? Having been a corporate credit manager for a $100 million plus company and to borrow a well know catch phrase "I know a thing or two since I've seen a thing or two".

Sales appear to be booked in advance based upon the contracted agreement whether it's first month shipment or six months of shipment. Payments are contingent upon a dealership actually selling a unit. When a unit is sold the dealership has 30 days to pay On4 and they must submit proof of purchase in order for On4 to then pay the dealership their commission.


This is a called consignment. It's the reason why only 15% of the sales has been collected. Some of the sales were probably even Cash in Advance which would never show up in A/R.


Since SB's commission is based upon sales contracts, not what is sold by dealerships, a commission expense is booked every month. Apparently there is very little cash to pay SB so he takes common shares instead, 7-10 million shares every month because of course he has an 12.5% commission agreement that has to be followed. All legal of course.