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Telestone Technologies Corp. (TSTC) Message Board

  • debby1250 debby1250 Feb 28, 2011 9:04 AM Flag

    TYLER DURDEN LINE APPLIES TO SHORTS IN TSTC:

    On a long enough time line, the survival rate for everyone drops to zero.

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    • That is the case.

      I am no short, for some reason you dubbed me a short. I have been interested in starting a position and one of my alarms went of related to pps. Followed by listening to the CC and I am not telling anyone to buy or sell, go long or short on this company.

      Its quite obvious many investors wanted to see them use a reputalbe accounting firm they felt comfortable with, which they did and switched back to the old one citing comfort levels. Leading into this CC, how do you have a YOY $90M SNAFU which can't be answered by the CFO?

      Deb, your behaving like a true angry child. Cut your losses or ride it out and see how it unfolds...

      But your right, screaming on the message board will get your money back, invest in a company that is transparent in the books as much as possible...or atleaset where you can access the link for its most current CC without jumping thru hoops.

      here is the link and you listen to it yoursel especially the last 7 minutes.

      Debs your agenda is not kosher.


      http://www.mzcan.com/cancast/us/register.php?id=usTSTC_3&version=e

      • 2 Replies to jforuus
      • First off the guy asking the question had the wrong Q4 revenue numbers so I can see why it was confusing.

        Roth came out with this after the CC:

        2011-01-25 Roth Capital Reiteration Buy $18.00

        A typical wireless coverage system integration project consists of two major milestones, hardware installation and signal connection. Carriers inspect and sign contracts with system integrators upon the completion of hardware installations, at which time system integrators recognize the contract value as revenue. Carriers typically engage multiple system integrators to cover multiple projects in a geographic region, and inspect each milestone in totality. For example, China Unicom in Shijiazhuang conducts its annual inspection at the end of the year, only when all system integrators in the city achieved the same milestone. As revenue recognition is contingent upon not only the carriers' inspection schedules, but also the progress of other projects in the region, it's reasonable for TSTC to have long DSOs and volatile revenue at year end.

        We are satisfied with the explanations provided by TSTC and the telecom carriers regarding the company's long DSOs, which are caused by the time lag between hardware and signal connection inspections and carriers' internal payment flow.

        Time lag between hardware and signal connection inspections – As the timing of signal testing depends on the schedules of telecom carriers and installers, rather than the work pace of TSTC, it's not uncommon to have a six-to-twelve month gap between the completion of hardware installation and the actual signal testing. China Telecom Tianjing is a case in point that signal testing has not yet been done for hardware installed in late 2009.

        Carrier payment schedule - While schedules vary by carrier and city, telecom carriers typically pay 20-30%, 70-60%, and 10% (or 70%, 20% and 10%) for a contract after the satisfactory inspections of hardware installation, connectivity testing, and fulfillment of a one year warranty. For each contract, a carrier recognizes accounts payable proportionately after hardware and connectivity inspections; which explains why there is no A/P over 360 days for the carriers while TSTC has DSOs over 360 days. It takes approx 1-2 months after the completion of each phase for the carriers to channel payments from their provincial branches to the city level branches, which another 2-3 months for the service providers to receive payments from the city level branches.

        Expect DSOs improvement – Telecom carriers recognize the inefficiency of the inspections that create large backlog for system integrators. The two carriers that we talked to both mentioned plans to systematically shorten the inspection period between hardware installation and signal connections. The three branches of TSTC expect significant payment improvement in 2011, especially from China Mobile and China Telecom.

      • You are not listening to the question he is asking. Its not a question!!!!!!!!!!!!! Ask any analyst or accountant its a bs gaff comparing 2009 to 2010 but not comparing apples.

 
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