Replies to post #44324 on Sigma Labs Inc (SASI)

[TedJ]

The Woodward PR was issued on July 5, just after the long holiday weekend. Could have issued before the weekend but better to wait. Figure 4 in the S-1 clearly states revenues up to June 30, 2016, so they booked the Woodward revenue in June. As described in the filings they book revenues upon completing the service.

Revenue Recognition – The Company’s revenue is derived primarily from providing services under contracts. The Company recognizes revenue in accordance with ASC Topic No. 605 based on the following criteria: Persuasive evidence of an arrangement exists, services have been rendered, the price is fixed or determinable, and collectability is reasonably assured. In general, the Company recognizes service revenue as significant services under the relevant arrangement have been performed.