Replies to post #8417 on Music Licensing Inc (SONG)

[trader59]

While I would understand recognizing invoices as revenue for a business with a history of actually receiving the "accounts receivable," the history here doesn't support that practice. They'd removed those account receivables during the registration process for the 3.5B shares awarded to the insiders when the SEC asked them to explain what they were doing. The financials then reflected the payments they were actually receiving as revenues.
Given the track record on collections and the outcome of the lawsuits filed so far, it seems a stretch to show any of it as revenues.

[Shawonsarker84]

Both account receivable and sales seem to be "fake". There is no cash on hand when we are talking about 45M net income. Allowance for doubtful increased from $718M to $806M. The whole thing looks too fake.

[Qu1ck_Trades]

It is revenue you idiot. It’s a signed contract. Just because it isn’t collected yet doesn’t mean that they’re arnt signed contracts he has.

Those contracts are legally binding!