So...here's my educated guess as to what's happeni
Post# of 40991
(Total Views: 544)
Posted On: 02/05/2020 9:18:51 AM
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So...here's my educated guess as to what's happening here.
SB has been putting up REVENUES at about 1.4 million per quarter. AR keeps growing and is sitting at about 8 million.
IMHO, SB is offering the units to dealerships on consignment. Pay for only what you sell. The shipment of 100 units to the dealer is logged as revenues AND AR. When the dealer sells 20 of the 100, the sales of those units falls off the AR. But the revs still show sales on all 100 because the units have been shipped and BILLED. Bill of sale = revenues AND AR. AR shrinks when and if any units are sold.
The mounting AR figure tells me that there are 8 million bucks worth of units out there that have not sold yet.
This is why he needs cash via share selling, etc. Unless SB gets paid on the units shipped on consignment, then he is going to need to find another path to take. And that is why we are now hearing about the new method via insurance companies.
I do believe 100% that he is shipping units, but he is also not being paid for them.
I also believe 100% that a lot of the revenues being posted are from subscriptions to Fleetsafer, which I know for a fact is being utilized by a number of fleets, PSE&G being one of them.
ONCI has a proven product--if it weren't, there would not be competitors out there fighting for a piece of the growing pie. WBSI, Cell Control, DriveSafely, etc. SB is a snake-oil salesman that has the contacts and has the gumption to get the sale.
Things here REALLY suck right now, but one contract with an insurer will make this fly.
SB has been putting up REVENUES at about 1.4 million per quarter. AR keeps growing and is sitting at about 8 million.
IMHO, SB is offering the units to dealerships on consignment. Pay for only what you sell. The shipment of 100 units to the dealer is logged as revenues AND AR. When the dealer sells 20 of the 100, the sales of those units falls off the AR. But the revs still show sales on all 100 because the units have been shipped and BILLED. Bill of sale = revenues AND AR. AR shrinks when and if any units are sold.
The mounting AR figure tells me that there are 8 million bucks worth of units out there that have not sold yet.
This is why he needs cash via share selling, etc. Unless SB gets paid on the units shipped on consignment, then he is going to need to find another path to take. And that is why we are now hearing about the new method via insurance companies.
I do believe 100% that he is shipping units, but he is also not being paid for them.
I also believe 100% that a lot of the revenues being posted are from subscriptions to Fleetsafer, which I know for a fact is being utilized by a number of fleets, PSE&G being one of them.
ONCI has a proven product--if it weren't, there would not be competitors out there fighting for a piece of the growing pie. WBSI, Cell Control, DriveSafely, etc. SB is a snake-oil salesman that has the contacts and has the gumption to get the sale.
Things here REALLY suck right now, but one contract with an insurer will make this fly.
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