Veltex Corporation (VLXC)

[jasper89]

Accounts Receivable:
2022 $ 13,140 (whole year when biz had really not started yet)
1st qtr '23 $128,163 (biz starts)
2nd qtr '23 $454,220
3rd qtr '23 $672,694

Revenues:
1st qtr '23 $115,070 (biz starts)
2nd qtr '23 $372,764
3rd qtr '23 $271,474 (lower than 2nd qtr)
total 3 qtrs '23 $759,308

Its obvious that AR started to build during the 1st qtr '23, and build more each qtr. They get a patient and have to collect from the agencies like Medicaid, which must take months, so it gets put in AR?

So are their real revenues $759,208 (reported) so far after 3 qtrs in '23, or could they be $1,431,902 ($759,208 revs + $672,694 AR)?
The big AR number means something, no? It makes a difference as revs almost double with AR.

Appreciate any input/comment.