Mary....the idea is to have as much cash collected as possible. Let assume 90-120 day terms as you say. If they have billed $3.7 million dollars since early 2017 and they still have $3.2 million on A/R as of 4/30/18 they are obviously not collecting anywhere near those terms.


Weeks ago I posted a quarterly breakdown of A/R and sales going back six quarters I believe. Let's just look at the last quarter reported, $1 million sales and A/R went up by $800K . So they collected $200K from the $2.5 - 2.7 million sales booked in previous quarters? Not exactly what I would call sterling. Of course without knowing the detail we don't know if that money came from recent sales or from something a year ago or a combination of both.

I suggest looking at the Cash Flow statements included in the filings. It's better than nothing and should assist you with determining what is going on.