FINANCIAL STATEMENTS --- DON’T BE FOOLED
I will re-post this again closer to when Mattyboy’s next quarterly financial statements are released, BUT everyone needs to remember this:
1. Reporting or recognizind revenue, as $INND alluded to in a previous tweet, is not the same as getting paid. It’s code for “we are recording it now in the hopes that we don’t end up having to reverse a large portion of it later, accept product returns, or not get paid because the product isn’t moving”
Walmart reserves the right to return product if it just sits around collecting dust.
THIS IS SIMPLY CALLED ACCRUAL BASIS ACCOUNTING
2. Take a look at the expenses versus revenues that are reported, even though they might not actually get paid for months. What I think we will see is a huge operating loss – don’t confuse this with depreciation, financing expenses or the ever increasing derivative losses as these don’t affect the day to day.
What I think you’ll notice is that the more money $INND claims to earn the closer this company gets to insolvency. I doubt the company has any real profit margins on the Walmart deal and when you add in salaries, promoters, the huge cost of supplying Walmart with these cardboard displays, rent paid to Moore family, and so on and so on, the company won’t be able to sustain itself.
Ask yourself the following questions:
1 Why has there been no mention of the remaining $$9 mil in purchase orders from Walmart? Is it because Mattyboy can’t finance it? I say “Yes, 9 million times”
2 Is $INND really going to tweet a pic of an empty cardboard display EVERYTIME one goes into a new store? Seriously, like is he planning 1499 tweets on this? Who cares???????
3 Why are the audited financial statements not being issued? I can only see 2 reasons --- $INND can’t afford to pay the auditors or the auditors won’t sign off. Is there another answer?
4 Are the hearing test kiosks dead? I am guessing YES because they probably go unused, serve no benefit to the company, and $INND probably can’t afford to keep paying the floorspace rental.
FDA OTC ruling???
Here is the biggest question of all.
Why does the company continue to tout this someday in the near future as being of any benefit. We’ve all been told that Hearingassist has sold $$28 mil in product to Walmart over the years --- if you believe that.
My question is “What were they selling? Not OTC hearing aids? If you look back at the pics $INND tweeted previously of past hearingassist displays, they all clearly show the hearingassist hearing aid products?? So, does $INND and Hearingassist have new products that are somehow different now because according to the pics – it’s the same ole’ sh#t.
Is this whole FDA OTC hearing aid ruling just a ruse??
I think the company needs to explain this.
Last question --- Can Mattyboy show any pics of cardboard sales displays with actual product on them for sale? They are always empty. DOES WALMART ACTUALLY HAVE PRODUCT IT CAN SELL RIGHT NOW? If not, then payment for that first PO is still a long ways out!!!
OH and, will we see on the next financial statements where $INND actually received payment for the purchase order that they announced just before the quarters’ close in December ‘21?
