Replies to post #80458 on Cuentas Inc (CUEN)

[profithigh]

$5,777 of inventory was never received.

Why do you always leave that part out while explaining to people the COGS?

Just wondering...

[DrContango]

After a full year of operations, these dynamic, cutting edge, think out of the box, Officers produced $5,200 (Five Thousand Two Hundred Dollars) in revenues with cost of sales exceeding $10,000.

Makes sense to me! They are simply using the Milo Minderbinder business model:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=106537267

"Milo chortled proudly. "I don't buy eggs from Malta," he confessed... "I buy them in Sicily at one cent apiece and transfer them to Malta secretly at four and a half cents apiece in order to get the price of eggs up to seven cents when people come to Malta looking for them."

"But I make a profit of three and a quarter cents an egg by selling them for four and a quarter cents an egg to the people in Malta I buy them from for seven cents an egg. Of course, I don't make the profit. The syndicate makes the profit. And everybody has a share."

"Then you do make a profit for yourself," Yossarian declared. "Of course I do. But it all goes to the syndicate. And everybody has a share. Don't you understand? It's exactly what happens with those plum tomatoes I sell to Colonel Cathcart." "Buy," Yossarian corrected him. "You don't sell plum tomatoes to Colonel Cathcart and Colonel Korn. You buy plum tomatoes from them." "No, sell," Milo corrected Yossarian. "I distribute my plum tomatoes in markets all over Pianosa under an assumed name so that Colonel Cathcart and Colonel Korn can buy them up from me under their assumed names at four cents apiece and sell them back to me the next day at five cents apiece. They make a profit of one cent apiece, I make a profit of three and a half cents apiece, and everybody comes out ahead."