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Posted On: 07/08/2019 6:35:06 PM
Post# of 40991
here is what i found in filings
page 18
Accounts Receivable
Accounts receivable arise from the Company’s sales of the Cogosense and FMS safe driving Apps and its net share of sales derived by
Digital Media Management & Consulting, less payments received to date. Receivables are supported by executed sales contracts with
customers.
page 18
Investment in CogoSense Technology, Inc.
On August 17,2017 the Company entered into a non-binding Letter of Intent to purchase 100% of CogoSense Technology, Inc., a
Canadian company, for total consideration of $ 2.6 million. CogoSense has developed and is selling its FleetSafer App – an enterprise
software solution for smart phones and tablets that detects the driving state of an entire on-the-road vehicle fleet and automatically
places those devices into “safe mode” while driving occurs, to prevent distractions. CogoSense has also developed an individual
consumer version called bSafeMobile and the bFoundMobile App which is a fleet vehicle tracking system to monitor vehicle
locations at any time. At April 30, 2019 the Company had invested a total of $ 1,375,000 towards the overall purchase price, which
consideration includes the IP, technology assets, revenue stream and customer base of CogoSense
page 18
Revenue Recognition
The Company recorded , supported by sales contracts, totaling $2,915,884 for the 6 months ended April 30, 2019 arising primarily
through the sale of the FMS safe driving App and the CogoSense Apps. This compares with sales of $ 2,026,211 for the 6 months
ended April 30, 2018 (representing an increase of approximately 50% year-over-year).,
page 17
During the 12 months ended October 31, 2018 the Company invested a total of $1,045,000 towards the purchase price of $ 2.6
million to acquire CogoSense Technology,Inc., a Canadian company, which has developed and is selling its FleetSafer App – an
enterprise software solution for smart phones and tablets that detects the driving state of an entire on-the-road vehicle fleet and
automatically places those devices into “safe mode” while driving occurs, to prevent distractions. CogoSense has also developed an
individual consumer version called bSafeMobile and the bFoundMobile App which is a fleet vehicle tracking system to monitor
vehicle locations at any time. The Compamy increased its cash investment by $330,000 to $1,375,000 during the 6 months ended
page 15
Net cash used in investing activities:
Acquisition of interest in Cogosense Technology, Inc (330,000)
page 12
Investment in Cogosense Technology Inc. 1,375,000
source of info
https://backend.otcmarkets.com/otcapi/company...77/content
page 18
Accounts Receivable
Accounts receivable arise from the Company’s sales of the Cogosense and FMS safe driving Apps and its net share of sales derived by
Digital Media Management & Consulting, less payments received to date. Receivables are supported by executed sales contracts with
customers.
page 18
Investment in CogoSense Technology, Inc.
On August 17,2017 the Company entered into a non-binding Letter of Intent to purchase 100% of CogoSense Technology, Inc., a
Canadian company, for total consideration of $ 2.6 million. CogoSense has developed and is selling its FleetSafer App – an enterprise
software solution for smart phones and tablets that detects the driving state of an entire on-the-road vehicle fleet and automatically
places those devices into “safe mode” while driving occurs, to prevent distractions. CogoSense has also developed an individual
consumer version called bSafeMobile and the bFoundMobile App which is a fleet vehicle tracking system to monitor vehicle
locations at any time. At April 30, 2019 the Company had invested a total of $ 1,375,000 towards the overall purchase price, which
consideration includes the IP, technology assets, revenue stream and customer base of CogoSense
page 18
Revenue Recognition
The Company recorded , supported by sales contracts, totaling $2,915,884 for the 6 months ended April 30, 2019 arising primarily
through the sale of the FMS safe driving App and the CogoSense Apps. This compares with sales of $ 2,026,211 for the 6 months
ended April 30, 2018 (representing an increase of approximately 50% year-over-year).,
page 17
During the 12 months ended October 31, 2018 the Company invested a total of $1,045,000 towards the purchase price of $ 2.6
million to acquire CogoSense Technology,Inc., a Canadian company, which has developed and is selling its FleetSafer App – an
enterprise software solution for smart phones and tablets that detects the driving state of an entire on-the-road vehicle fleet and
automatically places those devices into “safe mode” while driving occurs, to prevent distractions. CogoSense has also developed an
individual consumer version called bSafeMobile and the bFoundMobile App which is a fleet vehicle tracking system to monitor
vehicle locations at any time. The Compamy increased its cash investment by $330,000 to $1,375,000 during the 6 months ended
page 15
Net cash used in investing activities:
Acquisition of interest in Cogosense Technology, Inc (330,000)
page 12
Investment in Cogosense Technology Inc. 1,375,000
source of info
https://backend.otcmarkets.com/otcapi/company...77/content
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