Enzyme Environmental Solutions Inc (EESO)

[enzymesarecool]

Pilot.

Jared has said that he sold 800,000 worth of stuff in the last quarter of 2008 but somehow he also says he is owed 1.2 million more from buyers at the end of that quarter than they owed him at the end of the previous quarter.

As someone said earlier, might be interest on overdue accounts but that is not necessarily a good thing. if you look at the end of Q4, most of the money owing to EESO has been owing for more than 90 days (and maybe even much longer). How much is truly collectible.

It does not matter how much profit you made on the sale if you never collect what is owing to you. And jared's response has always been, we are make slow progress on the A/R. If some of this is not yet collected - the buyer got their product a long time ago and Jared has now been waiting 240 days and counting to be paid - I see massive write offs in the future of this one if this is the case.

You need auditors on this one NOW and not at the end of Q3. This one is clearly a mess already.