Replies to post #28813 on Bemax Inc (BMXC)

[news sniffer outer]

Exactly ! All should be able to see that. She has been true to everything she says. It takes money to grow the business and she borrowed it until she gets the 1.1M and pays it off with a hefty bankroll left to prevent further debt just as the pr said .

[ToddM]

Exactly what I think..she will pay off loans with Bethel money and then pick up a new contract with Bethel..she is in a hard field with major players but I see her doing the right things and moving forward..the stock price will reflect that in due time..! I'm a long term holder..five years plus for me. I've got time :)

[I-Glow]

Where in the financials is a entry for paying for the diapers to be shipped to Bethel.

From the press it states: "Bemax expects to complete shipment of this order in Q4 2016"

The Q4 for 2016 is May 31, 2017 - if they expect to complete the $1.1 million contract by May 31st - Bemax would be manufacturing (or buying from manufacturer) to ship to Bethel but there isn't anything in the financials to indicate they have paid for any diapers.

Plus, Bethel was supposed to be paying for the manufacturing - what happened to that?

IG

[I-Glow]

The 10-Q states very clearly the scenario you posted isn't accurate.

A purchase order is a contract between the buyer and seller.

Not a check.

Bethel hasn't paid for the diapers yet. They will just before shipment by Bemax.

"This new purchase order resulting from the long-term supplier agreement filed on November 16, 2015 is the first tranche of purchase order in 2017, with Bethel Imports paying for each consignment before shipment by Bemax".

This is why she is taking on dept.
Once she gets paid. The loans will be paid.

From the 10-Q: "Pre-payment Policy: All sales to our customers will be solely on a pre-payment basis. Once the order is completed and payment is received, we will place an order with the North American supplier of disposable baby diapers and arrange shipping directly to our customers. The process is expected to take three weeks to complete. The pre-payment will be recorded as deferred revenue until the delivery is executed." As you can see in the 10-Q there isn't any Deferred Revenue entered into the financial statement.

IG