Diego Pellicer Worldwide Inc. (DPWW)

[Rogerthat1]

Not from at all. Go to pg 22 and see monthly revs that stores in Seattle and Denver are really producing. Strong numbers. Now with that in context read the following bit from 10Q

Revenues. For the six months ended June 30, 2018 and 2017, the Company leased three facilities to licensees in Colorado and one in Washington. The six months ended June 30, 2018 is the beginning of the second year of operations for these licensees and Diego is now collecting some premium rents. Diego, however, is still forbearing on the premium rents contractually due from the tenant as a result of the cost of leasehold improvements and the deferral of preopening rents. These will become recorded as revenue when the Company considers the premium rents collectible considering the relative success of the tenant’s operations. These licensees have now had their opening year behind them and are experiencing increasing revenues in the second year of operations. This is a significant event for the company. For the first time in the company’s history there are four facilities generating some premium rental revenue. As a result, total revenue for the six months ended June 30, 2018 was $662,800, as compared to $854,997 for the Six months ended June 30, 2017, a decrease of $192,197 represented by the forbearance of $482,342 in rent accrued. Total revenue for the three months ended June 30, 2018 was $279,502, as compared to $545,035 for the three months ended June 30, 2017, a decrease of $265,533 represented by the forbearance of $265,533 in rent accrued for the second quarter of 2018.

In other words, they’re showing a good portion of their revs in perhaps A/R and not in revs. Just helping out the tenants get off the ground. Kind of reminds me how Bezos would refuse to report net income on their quarterly for years before flipping that switch on. Just an example that came to my mind to drive the point. Glty. $DPWW