Replies to post #158322 on On4 Communications Inc (ONCI)

[Jimmy Quick]

ARGUMENT IS IRRELEVANT IN MANY RESPECTS

So $1.8 million was mentioned as gross sales in the shareholder letter, which is greater than net sales by 125k which actually lends to the fact that he has reported revenue according to GAAP REQUIREMENTS at net of sales, secondly there is no requirement for a sales return allowance if deemed nominal in nature, now you may have to state they are expected to be nominal within the notes, but allowance is not required, check other Audited Financial statements, I have a set in front of me right now and it doesn't have a net sales allowance, so let's stay on track because, most importantly and lastly, these are UNAUDITED FINANCIALS, and if it is deemed necessary for AUDITED FINANCIALS due to being more than nominal then they will include within. But otherwise nitpicking over "returns not nominal in nature" in unaudited financial statements is nothing at all.