moose, only $226,107 was product $1,411,750 was Engineering and development, is that repeatable? included Completed V3 (ZBB Enerstore™) product development milestone under the Honam development agreement, resulting in $1.2 million of revenue
can't say it was a great or even good qtr but wasn't expecting much since commercialization is supposed to be in 2012.
CURRENT ASSETS = CURRENT LIABILITIES WHAT'S in the inventory?
this qtr will have more product sales but question is when will they achieve breakeven.
Original model last year was break even at 2 years. There are a lot of closed orders and by the looks of it almost none of it was recognized in Q1 when looking at revenue breakdown vs closed deals. Appears on track for another 1.6 million burn rate quarter? Gets them into 2012 easily with no additional capital.
They had 1.9 million at the end of September and got 1.4 million in October so their cash position was 3.3 million as of early October. Also shows a lot of orders 'closed' and still 5.7 million in backlog so I'm sure more revenue came in so far this quarter. No dilution this quarter? Gives new guys time to bring in financing?