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They posted a $7,000 profit compared to $287,000.

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sayre43   Wednesday, 08/08/18 03:28:47 PM
Re: tsoprano-1 post# 73
Post # of 110 
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

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