Did you mean Q1 2014? My take has been that the 20 mil from
Did you mean Q1 2014? My take has been that the 20 mil from late 2013 was left out because a VIE was not the way to go accounting-wise. Marty bit the bullet to stay safe, but at a tremendous cost to his biz plan.
Where and how this China rev could show up is beyond me. EWSI says "expected to be resolved Q2" and since there was no amendment to 2013 before the deadline maybe the money will show up in an amended Q1 or the upcoming Q2, or maybe never since the practices of the lease partners came into such question. Maybe the validity of the $20 mil can never be proven in a defensible way. And I feel since the China lease stuff is still on hold till the partners improve business practices and no announcement of regenerating the deals has been given there may well be no first half 2014 China contribution at all. But then Marty did say in his explanation of why the partnerships were temporarily dissolved that "revenue" is still accruing, so who knows.
A $20 million inclusion some how is the holy grail here. Q1 and Q2 China money would further the great news and solidify that China is real and profitable for us, big time, and that $50 mil for 2014 is indeed obtainable.
Worst case? No China $$ at all to date and organic eplant revenue, today and for a while longer, is all we get. This sets up 2014 as the infra-structure building year that's been stated but w/o any China piece which puts the whole thing in slow motion, it will be a long haul in this scenario. IMHO
E-Waste Systems, Inc. (EWSI) Stock Research Links
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