Todos Med Ltd (TOMDF)

[JoeForkeyBolo]

Revenue does not include sales unless those sales are paid for, so why would revenue be higher? Sales are made and the customer has a period agreed upon in the sales contract (30, 45, 60 days, etc.) to pay the company. Only then the sales amounts included in the revenues reported. If $2M in sales to are recorded in a quarter, but payments of only $1M is received during the quarter, then $1M is recorded for revenue and accounts receivable for the quarter.

Regarding the paragraph about the customer who has not yet paid, that's always a risk for any company, and that's why we have the courts to resolve these disputes. Amarantus had multiple lawsuits for unpaid bills, so now GC is on the other end of that issue.

I'm okay with releasing unaudited financials, as this is allowed per SEC rules and stated in the filing. There was a shareholder on Twitter urging GC to post the filings and amend any changes later. Perhaps that's what he decided to do, removing the urgency of the auditors to complete their review this week. We don't know what's going on with the auditor firms that might have caused another delay. I don't automatically believe the company is trying to deceive shareholders when a glitch occur. Some do. Different strokes. Both the CEO and CFO are legally on the hook for the accuracy of this unaudited filing. I expect we will see a fully audited update in the near term.