(Total Views: 233)
Posted On: 06/20/2018 10:29:01 AM
Post# of 40991
Here is a new statistic called Net Collected Sales. It provides a snapshot of how little of our "sales" have been collected to date.
1/31- 10/31/2017 1/30/2018 4/30/2018
Sales $1,679,000 $2,632,000 $3,705,000
A/R $1,485,000 $2,237,000 $3,127,000
Cash collected $194,000 $395,000 $578,000
-$194,000 -$395,000
Net collected $194,000 $201,000 $163,000
sales per Q
The bold numbers are what I calculate to be the actual sales per quarter based upon payments made by customers to Onci.
Until SB provides details on the payment terms of the selling agreements this is all we have to go by to deternine what sales are geting collected. IMO SB is making deals with customers and giving them product and telling them they can pay N60 ( could be N30 or N90) days AFTER they actual sell a unit. SB books the entire shipment as revenue on the day shipped, collects or accrues commission expense on entire shipment, then waits for payment based upon what I described above.
That is why A/R is so high in relation to overall sales. I wish it wasn't so but the numbers don't lie because they are SB's numbers.
note: the formatting of the worksheet maybe a little off so the columns don't line up.
1/31- 10/31/2017 1/30/2018 4/30/2018
Sales $1,679,000 $2,632,000 $3,705,000
A/R $1,485,000 $2,237,000 $3,127,000
Cash collected $194,000 $395,000 $578,000
-$194,000 -$395,000
Net collected $194,000 $201,000 $163,000
sales per Q
The bold numbers are what I calculate to be the actual sales per quarter based upon payments made by customers to Onci.
Until SB provides details on the payment terms of the selling agreements this is all we have to go by to deternine what sales are geting collected. IMO SB is making deals with customers and giving them product and telling them they can pay N60 ( could be N30 or N90) days AFTER they actual sell a unit. SB books the entire shipment as revenue on the day shipped, collects or accrues commission expense on entire shipment, then waits for payment based upon what I described above.
That is why A/R is so high in relation to overall sales. I wish it wasn't so but the numbers don't lie because they are SB's numbers.
note: the formatting of the worksheet maybe a little off so the columns don't line up.
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