timif...Good post...
Add to it this e-mail I got from RP, on Fujitsu's almost $1 million, of which EDIG had completed their part,(inferring that the $1 million was received in Q-3), and the picture become cearer...
e-mail from RP, on Fujitsue payment:
"Thank you for your e-mail and support. As stated at the shareholder's meeting, Eclipse by Fujitsu Ten is completing their portion of the project and based on their forecasts, the first generation telematics product is scheduled to be available in calendar Q1 2003; this is when these revenues
are expected to begin being recorded.
Best regards,
Robert Putnam
Senior Vice President"
Whether it be retail, or OEMS, it seem the company has decided
to "Count" as revenue, only when the payment is received, or at best, when the "Customer" sells the product to the end user...
This way, there is no more room misunderstanding as to the "Revenues." They can sign all the "Agreements", have all the "Partenerships", but none of them are of any Revenue significance until the money is received, or at best the widgets are sold to the end users...
Thus, the IFE contract got some money paid in advance for production of widgets for the "Major Airline". It will realize
the additional revenues when they are delivered to that Airline, and as they are used by end users ( the recurring revenue) part of it...
Hope, this sheds some light on where we are headed...
Regards...Gilgamash...
AI
