Replies to post #11891 on Bitcoin Generation Inc. (BTGN)

[gabbyco]

Here is all you or anyone need do-

Gulf Coast Pharmaceuticals
995 North Halstead Road
Ocean Springs, MS 39564

Phone: [phone]

[KELLYCO]

It does not matter if it is consignment.
It must be listed as a sale in accrual accounting.
And therefor it would show up as revenue.
Gary cannot use cash basis accounting.
Gulf Coast is a reseller and Gary claimed to have shipped product
it does not matter when payment is received.
That would be a receivable.
And IRS requires taxes paid from the time of sale which is when product was shipped to the reseller.