CL I just wanted to correct something. Amedica uses accrual based accounting. They can recognize revenue before payment is received. However there are conditions that have to be met to recognize that revenue. Thats the part that is confusing.
For instance they may have a purchase agreement set but no price per unit. That price would be negotiated based on performance. Thats just 1 scenario.
Another scenario could be that revenue is recognized over time. This is a bit fuzzy for me but it could be based on timepoints implants reach without being replaced. Say they can recognize revenue at 3mo, 6mo & 12mo after implant is implanted; hospital would compensate them within 30 days of each of these time points.
Again these are only examples as I dont know the details for Amedica.
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