I think the bad debts expense is a cover up for piss poor management and contract negotiation.
This money is for a prospective customer or customers, who LQMT paid for the molds up front.
Normally, the molds become property owned by the customer.
But knowing BB and crew, they offered to pay up front for the molds for the customers to make trial products. When the products didn't come to fruition or the customer said NIX on the deal, then LQMT was left holding the bag.
ALL HONESTY in reporting would cite this.
It doesn't even have a footnote.
How do the auditors sign off on this kind of crap?
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