A couple of thoughts, A PR went out saying sales of 1.6mil for the quarter. Then the accountant said "not so fast" you need to wait to be sure they are not returned. (easy to understand) But maybe wanting to list on a real exchange or possibly receiving tax credits made James think, I better not be so quick to speak, I have a high hurdle for the more rigourous GAAP standards.. If he had said, "we shipped 1.6mil" he would be in a better place. (minor issue to me) But one very encouraging thing I see in the numbers: Revenue went from 9000 to 200,000. That means either MArtha Stewart retailers restocked 191,000 worth of inventory (assuming there is no return ability of the retail customer)or Sales of Surgex, SlimTrim, Bikini Ready etc had huge sales in creases. MSE was only in the stores for 15 days, and only in a very few stores at first. So, they did get to recognize a big jump in sales for either a 2 week period for MSE, or the other brands are kicking in, too. What I do want to know is " How are reorders going?" Have there been any significant returns, How are the other lines going.
Finally, can someone reconcile the low Inventory, or deferred sales, it looks like total revenue plus deferred revenue should equal 1.6 million, does it? I cannot find the accounting statement. My computer is slooooooooow.
