Quadlogic Controls Corp (fka QDLC)

[sayre43]

They posted a $7,000 profit compared to $287,000. But they transferred $1,000,000 of royalties from FY 2017 to FY 2018. These were the 5 months of revenues from shipments made by Mexico in FY 2017 (CY 2016) and paid in March through July of 2017, which is FY 2018 at $200,000 per month. Changing the accounting to a cash basis based upon the fact that Mexico stopped paying unexpectedly after July 2017 moves $1 million into the FY 2018. The $1 million belongs in 2017 and if it's in 2018 it should not be considered anything but a one time item. The profit from continuing operations should be considered a $1 million loss in FY 2018