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Thursday, August 17, 2023 3:49:15 PM
After a year of Shawn's growth narrative every quarter the year over year net income number for Q1 2022 and Q1 2023 were nearly identical. Q1 2023 revenue was 1,300,046, he is projecting another $150K this quarter at $$1,450,000. It can't be that hard to bill an additional $25K a month to help your numbers. We will take another look at net income again and the statement of cash flows and see what is really going on. It wouldn't surprise me to see the filing late Friday or after hours Friday like the 8K.
Ethema Executes Two Real Estate Transactions and Major Debt Repayment
July 17, 2023 09:34 ET
https://www.globenewswire.com/en/news-release/2023/07/17/2705721/0/en/Ethema-Executes-Two-Real-Estate-Transactions-and-Major-Debt-Repayment.html
The Company further reports that its ARIA subsidiary’s extremely strong results in April and May continued in June and overall revenue for the ARIA subsidiary will be approximately $1,450,000 for the quarter, which will result in ARIA’s highest quarterly profit to date. The second quarter results will be released before August 14, 2023.
For the quarterly period ended March 31, 2023
https://www.otcmarkets.com/filing/html?id=16673787&guid=-HT-kenyprHRB3h
For the quarterly period ended March 31, 2022
https://www.otcmarkets.com/filing/html?id=15821144&guid=-HT-kenyprHRB3h
Q1 2022 - Q1 2023 comparison
Revenue up 21%
Rent expense up 21%
General Administrative up 13%
Salaries and wages up 26%
Professional Fees up 55%
Operating income essentially unchanged Q1 2023 = $75,026 ------- Q1 2022 = $74,940
2. Summary of significant accounting policies (continued)
m) Revenue recognition (continued)
The Company’s revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those services.
...The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized...
i. identify the contract with a customer;
ii. identify the performance obligations in the contract;
iii. determine the transaction price;
iv. allocate the transaction price to performance obligations in the contract; and
v. recognize revenue as the performance obligation is satisfied.
Everything that I post is just my informed opinion and is simply an invitation to debate. Trade on your own due diligence please..
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