Originally Posted by
Xerof
Not an accountant either, but here's how I see it.
From the notes to accounts:
all that is pretty standard stuff, so revenue recognised when a sale is made, not when the cash is received.
BUT
page 13 timeline is telling you that US sales commenced in APRIL 14, with cash being received in May, so a 30 day process period by Fedmed (thats quite good)
This is a significant clue on the timing of the start-up of US sales, as miner woohooed about earlier, and should be seen as encouraging. Sales commenced in earnest AFTER balance date. How much is 'earnest' is the question of course
seems to me, quite a bit of effort has been put into explaining the process, which has been severely criticised and misunderstood on this thread. I know peb read our histrionics, so good on management for attempting to provide some detail