Posted On: 05/08/2014 11:29:41 AM
Post# of 36729
GoldNApel sold YAK capsules at the dispensaries that appear as receivables in EOY 2013. Why wasn't any of this money actually collected by SKTO? When patients buy products, don't they have to pay for them with real money on the spot?
The cash SKTO got per EOY 2013 was $300K from a "related party," likely, a shark lender.
For all their good intentions, this may not have been the best thing to publish given the regulatory climate. It may be that GoldNApel doesn't know that the money was not recorded by the firm as anything but receivables and hence not recorded as collected money. They refer to it as revenues.
Because we have the YAK Capsules available in hundreds of California dispensaries, we feel that we can take our time somewhat in perfecting our new offerings, because the market for them is being fulfilled with the YAK capsules currently, which generate substantial ongoing revenues, and have done so for about six years. (...) Please note that all Berkeley Bio products, and all YAK products, offered by Dharma are part of SK3’s managed collective program and the revenues therefrom are reflected in the SK3 financials.
The cash SKTO got per EOY 2013 was $300K from a "related party," likely, a shark lender.
For all their good intentions, this may not have been the best thing to publish given the regulatory climate. It may be that GoldNApel doesn't know that the money was not recorded by the firm as anything but receivables and hence not recorded as collected money. They refer to it as revenues.
Because we have the YAK Capsules available in hundreds of California dispensaries, we feel that we can take our time somewhat in perfecting our new offerings, because the market for them is being fulfilled with the YAK capsules currently, which generate substantial ongoing revenues, and have done so for about six years. (...) Please note that all Berkeley Bio products, and all YAK products, offered by Dharma are part of SK3’s managed collective program and the revenues therefrom are reflected in the SK3 financials.
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