Tuesday, July 28, 2009 10:25:19 AM
So let me have you guys be my ears.
I sent JD 5 questions yesterday via email to have him address during the CC. He confirmed he received the email. I wonder if he has answered them and what are his answers.
1) I asked him to explain th Advances line items. When are they expected to be removed.
2) I asked him to explain the grossly mismatch of Gross Profit on his Jan 14,2009 PR and the financial statement for the year end 2008. It was 400K vs 118K
3) I asked him if he gets paid up front / or deposit / or collect money at when the final products delivered. What is the grace period
4) I asked him if there are any more preferred shares not converted, any convertible debt on the balance sheet at all?
5) I asked him how can he finance day-to-day operation knowing that cash and A/R is only 117K while current liability is over 1.8 million. Giving 400K was converted to long-term debt, still 11K to cover 1.4 million. It's a bit of a gap.
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