Replies to post #164516 on On4 Communications Inc (ONCI)

[zombywolf]

This will do a better job to show what I was getting at. Very clear with undeniable info that Stevie filed in the clear. All explanations accepted with specific number references in the fins. Scripture without facts ignored.

[Jimmy Quick]

Lol, receivable are liabilities.

[Jimmy Quick]

Here we go, Steve took over as CEO and Director of the Company on March 9, 2016 and totally revamped company and product line in that year, so technically not Steve's year but more of a reorganization year. Net annual loss October 31, 2016 was ($478k). 6 1/2 months under Steve's tenure.

"With his appointment the company began to aggressively pursue other business opportunities to produce a profitable business model going forward"

Now after giving Steve time to find the marketable product. Nov 4, 2016 ONCI acquires 49% of FMS safe driving app. **1** Year later as of October 31, 2017 Steve and ONCI produce a net income of $542k. One quarter later Steve and ONCI produce a net income of $404k. So 5 quarters from acquiring a marketable product Steve and ONCI produce a net income of nearly $1 million.

I guess I fail to see your analysis in a 300k loss since Steve has taken over. In fact a $1,000,000 increase in net income is much more accurate. Oh unless you exclude those accounts receivable *liabilities*. Chuckling

[makeithappen]

FYI- From Investopedia:
"BREAKING DOWN 'Accounts Receivable - AR'
On a public company's balance sheet, accounts receivable is often recorded as an asset, because there is a legal obligation for the customer to remit cash for the debt. If a company has receivables, this means it has made a sale but has yet to collect the money from the purchaser. Essentially, the company has accepted an IOU from its client."

Read more: Accounts Receivable (AR) https://www.investopedia.com/terms/a/accountsreceivable.asp#ixzz59sAtNBI3

Liking what I see, ONCI is a rare find in the OTC. Not many pink sheet stocks have a product, increasing revenue and a CEO that keeps shareholders informed (though a bit over optimistic at times). IMHO GL