Quality Industrial Corp (QIND)

[AgInAustin]

From igal on the discord:
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I consulted about this with an acquaintance from work who's in accounting. After hearing the specifics, he advised that in such a case of an acquisition in progress, the correct accounting method to use at this stage would be to record the acquisition target's revenue under Other Current Assets, as a WIP (work in progress). This is exactly what we see in the 10-Q/A, and explains why the assets are equal to revenue.
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So, the other current assets are revenue. The actual assets of the business (Quality International) haven't yet shown up on the balance sheet. They must have considerable physical assets.