Chiny - sprzedaż, kłopoty z księgowaniem

O Chinach to trzeba w całości:

Anthony Vendetti ( to jest analityk, który jest autorem tej rekomendacji z 16 listopada - kupuj, cena docelowa 1,5 USD. Maxim Group miał 2 analityków na konferencji)
I just kind of focus a little bit on the China outstanding receivables with the Milestone China. What’s your recourse if they continue to not pay? What is the -- yes, I guess, what’s your recourse? Or how are you -- how do you expect to pursue payment and what do you think the likely outcome at this point?
Leonard Osser
Well, at this point, they are, in fact paying. We have an arrangement with them where they’re paying $200,000 a month, I think, at this point in the quarter.
Joseph D’Agostino
Two months through December.
Leonard Osser
Yes, $200,000 a month that presently down to 18, isn't?
Joseph D’Agostino
21.
Leonard Osser
21. Okay. So the (dług - musiałem wywalić angielskie słowo) has come down to $2.1 million. They’re paying $200,000 a month. They have been late but paid, I think, within two or three weeks of the time that was supposed to be for the last two months. And they're now paid up through October. Is that correct?
Joseph D’Agostino
Correct.
Leonard Osser
Okay. So we're waiting for the November payment. I just got it back on Monday from China. They are in the process of raising capital, but they are also selling extraordinarily well. They are, by far, a best distributor we have in the world. Their model which was put together by [indiscernible] who was one of the original people in Sinopharm, who headed up to very large companies for them over 15 years. He has gone through many, many different models where his present model both in clinics, which have much room throughout the country, and in hospitals has been to stress safety. So they have symposiums throughout China on safety. They go through all the shows. And of course, the safety they feature are instruments. So they're not selling it based on pain, they're selling it based on practicing medicine from the 21st century not the 19th century and a much safer delivery of anesthesia to the patient. And while I was there they reported two large sales and -- I'll go over with you see have an understanding, one sale to a major hospital -- the major hospital in [indiscernible] province of 100 STAs at $4,000 each to that hospital. And the model for Milestone China in that case is to have five people from Milestone China to spend six months in the hospital, working with all of the doctors and staff, training them. Keeping in mind that in China, it's a profit center, they charge for the use of the disposables.
So there is a reason for the provider to consume more disposables. So what happens is, by having the people in the hospital, the doctors are perfectly trained, but so as the staff. So the devices is set up when the doctor walks in, the patient is taught before the doctor sees them about anesthesia and what it provides and they recommend using our instrument for the anesthesia. They have also made a sale to another hospital in China. I forgot where, but that's 80 instruments. The problem for us is the way the accounting works, which Joseph can explain, is because of our partial ownership that we don't have any control over Milestone China, but our partial ownership of that company, we cannot put (przychody) of our sales to them until they have sell-through. So even though they take the product from us, in many cases they get paid for right away, because they sell it to one of the two major, they sale to either Cardinal or Sinopharm and they get paid right away. We cannot recognize that sale until the end-user pays for it. And that's a problem of recording the numbers, but that’s something that we have to live with. So we believe that we will be paid. They are under economic stress or we would have been paid. We have been owed money by them before and sometimes in this range, and when they’ve gotten their money, they have paid us. And we believe that they have an excellent team there that they have a marketing method and opportunity in China that far exceeds anywhere else in the world. They are truly pristine marketing people and sales people. And we believe that they will be very successful. And we’re trying to be as supportive as we possibly can in major part because they are, in fact, our best distributor, but also we own a small part of that company.