They billed $1.6 mil for year but only collected $212k. The collections in the 3Q & 4Q were just awful. 52k in collections on $1.3 mil billed. Wtf!!! This is why (I speculate) they were unable to make that first payment to Cogosense.
The company is less than 2 years old and went from 0 to 1.7 million in revenues. All startups have growing pains, all startups hit bumps in the road. I like to see someone here start with 0 and work their way to nearly 2 million dollars in revenues in less than 2 years, and not have any issues along the way. The only issue I see is a CEO with diarrhea of the mouth.
Given the patents and the immediate sales were seeing ONCI has started on a path great success and has great potential to earn some serious revenues over time.
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