From the 10-Q: Note 4. Long-Term Accounts Payab
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Posted On: 01/08/2021 11:30:10 AM
From the 10-Q:
Note 4. Long-Term Accounts Payable
During the quarter ended November 30, 2020, in connection with the Samsung commitments as described below in Note 10, the Company negotiated non-standard payment terms for certain payables. The agreed upon payment terms resulted in due dates beyond one year of our reporting date. The non-current accounts payable balance as of November 30, 2020 was $34.3 million.
I’m interpreting this to mean Nader has negotiated an extension to the deadline for the payments due to Samsung in 2020. If so, this is positive news!
Note 4. Long-Term Accounts Payable
During the quarter ended November 30, 2020, in connection with the Samsung commitments as described below in Note 10, the Company negotiated non-standard payment terms for certain payables. The agreed upon payment terms resulted in due dates beyond one year of our reporting date. The non-current accounts payable balance as of November 30, 2020 was $34.3 million.
I’m interpreting this to mean Nader has negotiated an extension to the deadline for the payments due to Samsung in 2020. If so, this is positive news!
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