https://www.otcmarkets.com/otcapi/company/financia
Post# of 8398
(Total Views: 391)
Posted On: 04/15/2023 9:25:38 AM
https://www.otcmarkets.com/otcapi/company/fin...48/content
Goto pg. 13
Note 5 - Inventory: 31 Dec '22 ==> 31 Dec '23
1) Raw Materials - These are the materials, ingredients or base component parts used to manufacture a product.
** increased from $0.00 to $2,256.00
2) Prepaid Inventory - Payment for inventory not yet received.
** increased to $72,669 from $22,162 ** + 227%
3) Finished Goods - The value of finished goods is classified as true value inventory ... Finished goods are considered a short-term or current asset on a company's balance sheet because they are usually sold within a year.
** increased to $51,680 from $3,100 ** +1,567% (15x)
So, in one year, we have spent over $2,200 on raw materials, more than doubled our expenditure for prepaid inventory (more raw materials?) and increased our inventory of finished goods by more than 15 times. This is hardly the spending of a company on the brink of collapse despite another low revenue quarter. Speaking of which, sales did increase to 55k from 48k; 14.6%. Not earth-shattering by any stretch but I'll take it.
https://www.indeed.com/career-advice/career-d...shed-goods - Finished goods is a category of inventory unique to manufacturing businesses. They are products that have completed the manufacturing process but have not yet been sold or distributed to vendors or retailers.
Same argument as many things before. We are spending money to develop (manufacture via Viant/Meraqi???) product. How finished goods are valued is not something we will ever know. I think 15x is a big jump. I'm sure to some degree it represents an increase in the cost of transportation from China which would only bolster the argument to bring production back home; as in Viant/Meraqi. Or, more reasonably, the reason we had to secure more storage space to accommodate more product which will find its' way to a distributor w/ in the next year, 2023.
As mentioned before we, BIEL, are in the middle of a super-critical time. A necessary transition to a mass producer of product to accommodate more business; as in Synergy (975,000 units) and possibly/probably CMMS/Insurance coverage. It's so easy to ridicule and criticize b/c we, the longs, don't have access to inside info to counter the hooting and catcalling. The company is doing what they are supposed to be doing. Spending money judiciously, going to work each and everyday (on our behalf!), moving forward.
Having said all that, I really do want a shareholder letter to shed some light on topics we all want to know about. Fingers crossed.
"Sic parvis magma" - Greatness from small beginnings
Do yourself a favor ... BUY_MORE_SHARES
Real eyes realize real lies.
Later, WBeacham
Goto pg. 13
Note 5 - Inventory: 31 Dec '22 ==> 31 Dec '23
1) Raw Materials - These are the materials, ingredients or base component parts used to manufacture a product.
** increased from $0.00 to $2,256.00
2) Prepaid Inventory - Payment for inventory not yet received.
** increased to $72,669 from $22,162 ** + 227%
3) Finished Goods - The value of finished goods is classified as true value inventory ... Finished goods are considered a short-term or current asset on a company's balance sheet because they are usually sold within a year.
** increased to $51,680 from $3,100 ** +1,567% (15x)
So, in one year, we have spent over $2,200 on raw materials, more than doubled our expenditure for prepaid inventory (more raw materials?) and increased our inventory of finished goods by more than 15 times. This is hardly the spending of a company on the brink of collapse despite another low revenue quarter. Speaking of which, sales did increase to 55k from 48k; 14.6%. Not earth-shattering by any stretch but I'll take it.
https://www.indeed.com/career-advice/career-d...shed-goods - Finished goods is a category of inventory unique to manufacturing businesses. They are products that have completed the manufacturing process but have not yet been sold or distributed to vendors or retailers.
Same argument as many things before. We are spending money to develop (manufacture via Viant/Meraqi???) product. How finished goods are valued is not something we will ever know. I think 15x is a big jump. I'm sure to some degree it represents an increase in the cost of transportation from China which would only bolster the argument to bring production back home; as in Viant/Meraqi. Or, more reasonably, the reason we had to secure more storage space to accommodate more product which will find its' way to a distributor w/ in the next year, 2023.
As mentioned before we, BIEL, are in the middle of a super-critical time. A necessary transition to a mass producer of product to accommodate more business; as in Synergy (975,000 units) and possibly/probably CMMS/Insurance coverage. It's so easy to ridicule and criticize b/c we, the longs, don't have access to inside info to counter the hooting and catcalling. The company is doing what they are supposed to be doing. Spending money judiciously, going to work each and everyday (on our behalf!), moving forward.
Having said all that, I really do want a shareholder letter to shed some light on topics we all want to know about. Fingers crossed.
"Sic parvis magma" - Greatness from small beginnings
Do yourself a favor ... BUY_MORE_SHARES
Real eyes realize real lies.
Later, WBeacham
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