Biotech Values

[zipjet]

iw is right.

There was a large shipment as soon as approval came through - think it was 5,000,000 units (from memory).

The sales were recorded on shipment.

The revenues at MNTA are accrued so they do not wait for payment for revenue recognition and the AR is paid 45 days after the end of each Q.

I think the bigger error in your calculation is that you failed to deduct the ongoing expenses which overstated the net income.

zip