Navy, The 120,000 cases ordered is just that ORDERED. Q1 just closed. We know that they sold out of the first 14,000 cases of Coconut water on Feb. 20. It is reasonable to assume that these 14,000 cases will show up as revenue on the Q1 report due out in May. I will be surprised if the number on the Q1 report is much higher than that.
The 120,000 cases on order have to be produced, shipped, delivered, sales price is fixed and payment reasonably assured (see latest 10k on revenue recognition policy under the financial section). I suspect the majority of these will be realized in Q2 - although with the last part of this revenue recognition policy being "payment reasonable assured", some of the sales may slip into Q3. IF Yates was projecting correctly and they do about 500,000 cases of Coconut water in 2014, that still leaves 366,000 to be sold in the later part of Q2, and into Q3 and Q4. This means that top line revenues will still be muted in Q1 but ramp up significantly in quarters after that.
