Well first we have to know what UNCC paid for it…or was it donated for evaluation (like Delpack)?
But as for the agreement between MULN and RM, RM pays for the vehicle at the time of delivery so that would be revenue on MULN’s books….with one caveat…
The revenue impairment due to the “right to return”. Now normally, a company cannot claim revenue on that portion of a delivered sale that could reasonably be expected to be returned. For companies that have a track record of % returns that is easy to estimate.
In MULN’s case that isn’t so easy as there is no track record.
So we will have to wait until we see the financials that include the RM deliveries and payments to see how they have treated it.
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