If she took the money up front (Customer Deposit on Items delivered at a later date), but did not physically ship them to that customer, then she cannot recognize those sales. The PO stated that it was to be delivered up until May 2017. It looks like no parts of that order were sent out, prior to Feb 28th, so she could not recognize those sales as revenue. I was hoping they could have fulfilled that PO already, or at least some parts of it, so that it could be recognized.
As long as she fulfills those open orders by May 31st, there will be revenue shown by year end. This is excluding any and all Online sales, as those did not start until April.
Not the best 10Q definitely, but the year end numbers will be great. You will see this rebound next week, off the panic selling that happened in the last 30 min. We will see what PR she releases, to explain the 10Q, as well as what future projections they have in store.
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