(Total Views: 378)
Posted On: 06/06/2019 12:44:35 AM
Post# of 40990
The proof of the "doubtful revenue" is that other than a few of you on this board who bought the bSafeMobile on Facebook , it cannot be found anywhere else in quantity for sale. Are the dealers hiding the product from the public. Where are the reviews from people other than those on this board?
Yet the company has claimed $7.7 million in sales thru 1/31/19. At an average selling price of $200/unit that would be 38,500 units sold worldwide. I claim BS.
All revenue has been booked in advance per SB's contract which no one has been able to read in full. That fully explains why there is $5.7 million in uncollected A/R which IMO will have to be written off an uncollectible because they have never shipped product in the first place.
That's why there is no inventory on the books. Because there is no product that has been shipped.
Yet the company has claimed $7.7 million in sales thru 1/31/19. At an average selling price of $200/unit that would be 38,500 units sold worldwide. I claim BS.
All revenue has been booked in advance per SB's contract which no one has been able to read in full. That fully explains why there is $5.7 million in uncollected A/R which IMO will have to be written off an uncollectible because they have never shipped product in the first place.
That's why there is no inventory on the books. Because there is no product that has been shipped.
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