Replies to post #164467 on On4 Communications Inc (ONCI)

[mug2011]

Wrong. They were accounts payable. They dropped 1.3 million because of the write off They were a liability. From what I read. Maybe I’m dumb but that’s how I read it. It wasn’t a receivable right off because not collectible.

[Breezerunner]

Whaaatt???

[DreamGreen]

LOL Really? You think accounts receivable are liabilities???? Furthermore, It clearly states these liabilities were from 2015! Geeez

During the quarter ending January 31, 2018 Management reassessed the validity (or otherwise) of accounts payable and other liabilities which were primarily inherited from past management dating back prior to 2015. In doing so, Management believes that such brought forward liabilities totaling $1,286,068 are no longer reasonably enforceable and accordingly they have been written offAdditional Paid-In Capital.

[NYR24]

Accounts receivable (sales) are liabilities? Wow this board. Wow. GLA

[HNDRXX]

Account receivables are money they are due to receive