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Sunday, November 20, 2022 11:23:40 AM
Sales for three months ending 9/30/22: $6,564,682
A/R for three months ending
9/30/22: $6,202,654
Days sales outstanding for
A/R is about 90 days.
Are terms Net 90? I doubt it.
Are the stocking orders for retailers actually just consignment orders and the company won’t get paid until retailers actually sell units? More likely but will have to watch the correlation between Sales and A/R going forward.
Most of the cash inflows are coming from proceeds from issuance of note payables, not from collecting sales. Just the A/P alone is higher than the A/R which is not a good sign.
Bottom line: If company is unable to collect sales in a timely manner they will need to continue with an alternate source of financing which will likely involve a tremendous amount of dilution.
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