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S&W Seed Company Message Board

  • doyourdeedee doyourdeedee Jul 9, 2010 1:36 PM Flag

    Did the customer pay their bill yet?

    From the Q:

    "Our largest customer, Genetics International, Inc., owed us $1,221,737 at March 31, 2010. These outstanding invoices have 90 day payment terms. We are in communication with this customer and have a very long-standing relationship with the customer. In over 25 years of selling to Genetics International, we have never had to write off any receivables due from it. We anticipate collecting the remaining outstanding balances in the near future. To the best of our knowledge, there is no company-related issue that might be delaying payment, nor are there any negative issues impacting our relationship with this customer. Moreover, we believe that all of our outstanding accounts receivable balances are fully collectible. Our relationship with this customer is strong, and we intend to continue to do a significant amount of business together. In future periods, we may also further extend credit to Genetics International."

    Anybody know?

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