My major complaint about SB was that he always exa
Post# of 40991
(Total Views: 155)
Posted On: 08/14/2018 12:43:41 PM
My major complaint about SB was that he always exaggerated his accomplishments and always went silent when things didn't work out as planned.
Remember the days were he would PR a deal then extrapolate his first month's shipment to a dealership and say the annual revenue from the deal would be 12x the first month shipment or he would increase the reorder amount by 2x?
Winston used to post a list (thru 1/30/18) that showed annual projected sales of $30 million for 2018. That is called exaggeration.
So far Dubai and Turkey and Kuala Lampur are exaggerations imo. Silence from SB. I'm sure there were "unforeseen delays and circumstances" that he just couldn't share when those deals couldn't get closed.
The MJ nonsense, the redomiciling, DE debt. A lot of noise but nothing has happened.
I just wish SB would prove me wrong. I beg for him to do so. As I stated before he only friend he has is time. The longer he has a chance to pull in a really big fish the more time it gives him to cover for booked sales that may or may not be sitting at dealerships not getting paid for.
AR and cash flow statements are the key for the next report. If we see another $1 million in sales but AR has increased another $800K it will be a continuation of the revenue recognition issue that has plauged this company. If AR decreases and cash substantially increases then perhaps the tide could be turning as there isn't much AP on the books. I'd figure that any excess cash that does comes in would first be repaid to SB to reduce the amount owed to him.
Remember the days were he would PR a deal then extrapolate his first month's shipment to a dealership and say the annual revenue from the deal would be 12x the first month shipment or he would increase the reorder amount by 2x?
Winston used to post a list (thru 1/30/18) that showed annual projected sales of $30 million for 2018. That is called exaggeration.
So far Dubai and Turkey and Kuala Lampur are exaggerations imo. Silence from SB. I'm sure there were "unforeseen delays and circumstances" that he just couldn't share when those deals couldn't get closed.
The MJ nonsense, the redomiciling, DE debt. A lot of noise but nothing has happened.
I just wish SB would prove me wrong. I beg for him to do so. As I stated before he only friend he has is time. The longer he has a chance to pull in a really big fish the more time it gives him to cover for booked sales that may or may not be sitting at dealerships not getting paid for.
AR and cash flow statements are the key for the next report. If we see another $1 million in sales but AR has increased another $800K it will be a continuation of the revenue recognition issue that has plauged this company. If AR decreases and cash substantially increases then perhaps the tide could be turning as there isn't much AP on the books. I'd figure that any excess cash that does comes in would first be repaid to SB to reduce the amount owed to him.
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