Replies to post #236467 on On4 Communications Inc (ONCI)

[Anvil]

I provided you the FASB rule, read it. Now some instruction:

If On4 sells its app to a buyer on credit, it creates a account receivable. Usual terms are 2% net 30 as I explained previously.

If the buyer does not pay in 5 months, should On4 reserve for this account? What about 12 months late?

GAAP/FASB recommend 90 days past due to write off a receivable.

Simple A/R turnover ratio for On4 is over 12 months.

Now, what if On4 gives 12 month terms, should that be listed as a current asset?

GAAP say no.

BTW, if a tax ID number for On4 can be given, I would make a tax deductible donation

[malekabal42]

20 baggers?! Really? Face it NO ONE who has been here more than 4 months can afford to sell. We'll definitely be around 5 more month's for this 20 bagger you're predicting.

[Chaka]

Think About....No place to go but up moving forward!
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People been saying that since .0040-.0050 amigo.
FACE IT.
( IT'S A SCAM 1000% GUARANTEED ).