Saturday, May 25, 2019 6:37:09 PM
$ONCI Revenue Recognition and Accounts Receivable
Quote:
The Company recorded , supported by sales contracts, totaling $1,428,519 for the 3 months ended January 31, 2019 arising primarily through the sale of the FMS safe driving App and the CogoSense Apps. This compares with sales of $ 953,211 for the 3 months ended January 31, 2018 (representing an increase of approximately 50% year-over-year).
Quote:
Accounts receivable arise from the Company’s sales of the Cogosense and FMS safe driving Apps and its net share of sales derived by Digital Media Management & Consulting, less payments received to date. Receivables are supported by executed sales contracts with
customers.
https://backend.otcmarkets.com/otcapi/company/financial-report/218887/content
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