Replies to post #29376 on Bemax Inc (BMXC)

[I-Glow]

I read and understand the 10-Q very well - the original storyline was that Bethel was going to fund the production of the diapers.

Please show everyone where in the 10-Q - "For those that read and understand the 10q the bethel deal needed to be funded so some dilution needed to occur." According to the BMXC PR and the Revenue Recognition - they don't indicate anything close to needed to fund the Bethel contract.

From the BMXC press release we find: "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. Bemax expects to complete shipment of this order in Q4 2016."

And don't forget the How BMXC Recognizes Revenue from the 10-Q.

"The Company’s revenue recognition policy is on a sales-basis method. The Company recognizes and records revenue once payment has been received and disposable baby diapers are delivered to the buyer.

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."

What happened to the $710k contract from Bethel - where is it in the financials?

IG

[02opida]

Thanks for sharing ~ Nifler

[Luckybstrd]

Thanks nifler