Credibility? The company has 12k in accounts receivable. Cash hasn't even been received yet.
Who did they 'sell' these diamonds to? And when are we going to be receiving payment?? Last time the company was shady about people we were doing business with we got stiffed.
As far as I'm concerned the company GAVE AWAY their diamonds and will never ACTUALLY RECEIVE payment.
and I think they-SNEY- realize the next 12 months are their last best chance to find the right formula-
yes its been a long time -but they have income for the 1st time in a demonstrated repeatable formula-
its impossible to honestly make fun of the achievement of a repeated income formula-many co's at this level never even achieve ANY revenue- many mining co's never even find economical quantities
I've followed this for 3-5 years- like most companies at this level things have taken longer than expected
as for those who claim no income has been received they 'dont understand' that the financial statements and the mgmt analysis depict the situation as of dec 31
thus the 12490 payment for the 1st small initial shipment designed to work out the bugs as PR's say and security issues in the process has probably been converted to cash by now,which is why they now report it as 'other income' as an apparent 'subsequent event'- i.e. subsequent to Dec 31
in most industries accounts receivable are converted to cash within 90 days since the PR's say 'cash sale' no doubt it has been converted -hence the sloppy 'other income' subsequent event language of the 10k
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