SmartMetric Inc (SMME)

[mrnutsandbolts]

I see it more like this: A person goes to buy a pair of shoes. He finds a pair and tells the salesman, "I'll take these." The salesman tells the customer to pay for the shoes at the cash register. The salesman tells his wife, "I made a sale."

ONLY after the transaction is complete, after the person pays for the shoes, is it truly a "sale" on the books of the company.

It could be the "sale" announced by SMME is at the "I'll take these" point in the transaction. Cards may not yet be delivered in the quarter the "sale" was announced so no revenue may be reported until later, cash or accrual method used. Value needs to be exchanged for a revenue to be reportable.

(I believe only expenses are "accrued", not revenue.)