Re: Agoracom Mgmt.
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Message: Re: Agoracom Mgmt.
The way I read this, there may be some IFE still in the pipeline as the accounts receivable increased quite a bit.
Any other ideas with respect to the increase of $1,584,784 in accounts receivable ?
If that's an IFE order I sure hope it comes in this quarter along with another settlement.
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Operating Activities
Cash used in operating activities of $1,149,177 for the six months period ended September 30, 2008 included the $698,040 loss decreased by non-cash expenses of $225,209. Major components providing operating cash was an increase of $794,356 in accounts payable and an increase of $264,000 for accrued income taxes. Major components using operating cash included an increase of $1,584,784 in accounts receivable and a $62,324 increase in inventory. We have negotiated terms with our contract suppliers reducing advance production payments required prior to product delivery. Our terms to customers vary but we often require payment prior to shipment of product and any such payments are recorded as deposits. Patent license payments are normally due at signing of the license or within 30 days or less. Receivables associated with patent licensing of $1,600,000 were paid in October 2008. No future payments are due under the license.
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