The 2017 Q3 Quarterly report will report sales and revenue for the 3 months ending September 30 as compared to the same period in 2016. But customers may have account in QMC and actual payment may be deferred and may be indicated in the Quarterly Report as "deferred revenue". Nevertheless, revenue comes with sales, pay me now or pay me later, it is unimportant.

Stephen: "We have also begun to generate modest revenues from the sale of our quantum dot samples to our display industry customers"

He did not say sale of QD to researchers or other innovative entrepreneurs, he specifically said "display industry customers" which implies TV makers. Company in the TV display industry seldom buy quantum dot directly from QMC, they buy display panel thin films from their potential thin film supplier. If one reads the Update subtly, one should conceive that QMC's film partners are selling film samples to TV makers who like their products and are buying more for evaluation, as Stephen said: "All indications are that these sales volumes will continue to increase". Its a matter of time QMC's film partners will announce major sales contracts with major TV makers, for QUANTUM DOT is the future.