“This happened once before, when I came to your door…no reply”
For those pondering what monies our battler might show as received in the second quarter, consider this. Total revenue accounted for in 2022 was USD5,071,252. Monies received in 2022 was USD2,717,000. If my arithmetic hasn’t completely escaped me, this means that USD2,354,252 remained unpaid at the end of 2022. We understand that this is owed by Megachips.
In first quarter 4C our battler received the princely sum of USD40,000.
I choose not to bother Tony frequently, but I recently sent the following email to him…’The Megachips money (USD2,354,252) has been on the company’s books for at least six to twelve months.
Standard accounting practice suggests monies owed for longer than 120 days should be shown as a bad debt. The premise behind this is is obvious…the longer monies remain unpaid, the less likely it is that they’ll ever be received.
Now the company may well say payment is dependent upon reaching milestones, but if it remains unpaid, the coming second quarter 4C should provide shareholders with an update on when this money can be expected.
As I continue to say, there is absolutely no reason why the company can’t provide far more information about its affairs to shareholders, than it has over the past eighteen months, whilst still maintaining the level of confidentiality demanded by customers, partners and indeed for the company itself...and continuing to comply with ASX requirements’.
”…you just keep me hangin‘ on”
I’d also like to do a Tony Jones…Tech keeps telling us that January 2025 is gunna be the time. By this I think he means the time when revenue is going to ramp up to a level no one will be able to disregard. I believe he’s being a tad conservative, but not something one could mount a strong argument against.
However, if he proves to be on the money, then for mine there will be a whole host of stuff going on between now and then, that will be nigh on impossible to keep from sleuths like the 1000 Eyes...this will positively impact the share price.
“I’ll take that as a comment”
Why the old Merc photo below? It was taken in the West Sussex village of Charlton which is adjacent to the historic Goodwood Motor Racing Circuit. Currently in one of my favourite parts of England, I was enjoying an ale in the beer garden of The Fox Goes Free pub, when the owners of a bunch of classic Mercs turned up. After discovering that they were going to try their hand at speeding around Goodwood, we settled into some serious drinking. Believe it or not, it turned out that one of them is part of the team developing Mercedes electric vehicles. He not only knew about Akida, but spoke glowingly about what it could do and how effective it was. Try as I want to gleen more out of him, he remained sober enough not to spill anymore beans.
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