QSGI, Inc.(fka QSGI)

[rjviking]

So we are to infer from your previous statement:

It is also apparent that The Gasket Guy is at least $725k in debt and has used it's assets as collateral.

That some how $725,000 in receivables (assets or money being owed to the company, not buy the company) is now classifed as debt?

I suppose my real question is what your definition of receivables is?

http://www.investopedia.com/terms/a/accountsreceivable.asp#axzz1YcQqMAFh


Accounts Receivable - ARWhat Does Accounts Receivable - AR Mean?
Money owed by customers (individuals or corporations) to another entity in exchange for goods or services that have been delivered or used, but not yet paid for. Receivables usually come in the form of operating lines of credit and are usually due within a relatively short time period, ranging from a few days to a year.

On a public company's balance sheet, accounts receivable is often recorded as an asset because this represents a legal obligation for the customer to remit cash for its short-term debts