Valcom Inc (fka VLCO)

[tigerpac]

Paul....your revenue numbers might be contradicting each other.

from a Valcom PR:

ValCom has close to $1,000,000 in net contracts not recognizable in 3rd quarter that will be booked in the next quarter.

from the Valcom 10-Q/A dated 9/2/11:

The Company has entered into several licensing deals for its content totaling $434,370.00 and has currently finalized four
contracts and is negotiating two more which are expected to close at any time; all will be paid throughout the terms of the
agreements.

The 10-Q does not specify how the revenue will be recorded. The proper accounting treatment would "likely" record an equal amount for each month of the contract. The Valcom way may just book everything up front and then write off any amount that is not fulfilled due to lack of service. Kind of like the $435,000 bad debt charge they took in the period ending 6/30/11 that has no explanation whatsoever in the 10-Q.