Just getting into it the first go around. Pretty sure this is the BBCo.
In October 2017, we entered into a supply agreement with a bourbon distiller, which provides for the production of newly-distilled bourbon whiskey. Under this agreement, the distiller will provide us with an agreed upon amount of original proof gallons of newly-distilled bourbon whiskey, subject to certain annual adjustments. For the contract year ending December 31, 2018, we contracted to purchase approximately $3.9 million in newly distilled bourbon, all of which had been purchased as of December 31, 2018. For the contract year ending December 31, 2019, we contracted to purchase approximately $4.6 million in newly distilled bourbon, of which $1.2 million had been purchased as of March 31, 2019. We are not obligated to pay the distiller for any product not yet received. We expect to use the aged bourbon in the normal course of future sales, generating positive cash flows in future periods.
All of the $3.9 mil paid for and $1.2 mil of the contracted $4.6 mil paid for.
Accounts receivables increase $3,410,747.
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