Wonder what the allowances are for that receivable number? i.e. whether it requires returns from retailers of unsold product to be deducted(thinking Gamestop in particular: never fun to see a $20 product being sold for $4.99 when they got 40,000 units...very strange). Just don't like the idea that people who owe us at least $895,000 (assuming Navarre = Distributor = the receivable) decided to suddenly and mysteriously drop all of our top selling RR products right before the holidays. Ken does have a habit of counting his $$3.66/share investments before they hatch. :)
I hope Mart got a good look at all the books before he took the job and Ken didn't leave some 'surprise' accounting for him to discover.
For example, we had $815,000 in ending Accounts Receiveable Dec 31 2009. The 2010 full year financials show the receiveables went down to $260,000 yet our full income for the year was $401,000 (whither went the missing $150,000?). Ending 2010 receiveables were 260,000, yet by Q1 2011 only $120,000 in A/R remains and $16,000 in income was received, leaving $140,000 of A/R "disappeared" as well. Either the A/R estimates have massive allowances for returns, or have been poorly estimated, or...well, lets stop at that for now. New management, new company. :) I guess what I'm saying is I'd believe the $900,000 Q3 receivable numbers more if they were repeated by our new CEO and not from an old 'Hurley Report'.
Maybe these are reasons why audits take 8 months to complete at SDVI headquarters, lol.
Good Cheers, Saredi
The current outstanding receivables as of July 21, 2011 are $895,544.49.
Market Data 
Markets 
AI
