Resonant, Inc (RESN)

[Theo]

"I think the revenues are recognized as earned on the prepaid revenues. I think they recognized some revenue for development milestones and some for shipments."

I agree that they receive upfront payment for the initial use of their proprietary design on a per-unit basis- as well as design milestones. But, their real income will come from royalties and that will be their steady income stream at some point in the future. I'm also pretty certain (just my opinion) that the customer(s) they are working with for their trial runs were given a pretty decent discount not to mention that the filters that their design is being used in are most likely very low-end therefore their percentage of profit on each unit is negligible. When you've doubled your production and your income remains the same, something is off-kilter...