The Nov 29th 2019 8k explains the situation pretty clearly imo. Now three months later they have completed exactly what they have said they would.
How do you expect them to recognize revs with out completing the terms of the agreement?
Was jimmy wrong in his projection in the prev PR. 100% hes to blame for that and the failure to recognize that the Revs could no be recognized in those periods.
"The Company is now taking steps to rectify the situation relative to BizRight revenue recognition through increased testing of revenue parameters and via the final issuance of shares owed to the owners of BizRight, in accordance with the Agreement. Additionally, the Company is exploring the exercise of the clause in the Agreement to purchase all of the outstanding shares of BizRight. These actions are likely to allow the Company full revenue recognition under the terms of the Agreement. There has not been a timeframe set as of yet for this exercise at this time there is no assurance what any such exercise will take place, but final negotiations are underway and management of the Company plans to move expeditiously toward the exercise of the acquisition option."
The BZRTH option was executed this month making that 3 months ago, or a quarter from when the 8k was released about the rev recognition. Dont know about you or anyone else but im atleast waiting till the next Q or two to see what other progression is being made. GL
Long and strong $SGMD
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