Yeah, well, not the first time and won't be the last. And I'm glad you're ok with that. Unless fundamental investing has changed, then I'm happy with my assessment.
Shareholders could care less about the shorts. They have always been here and will always be here into the future. Shareholders are focusing on contracts, revenues and earnings. That is what affects the sp in the long run. RFI managemet would love to have nothing more than long/short term investors or traders worry about the shorts, shifting focus away from the lack of revenues.
I enjoy humor in advertising so I'm debating whether I would like to see MMc chauffeuring Bruce because he loves driving a Lincoln so much and volunteered for the job or having the boss be an unknown chauffer watching MMc playing with all the gadgets in the back seat. Bruce tells MMc to tint the roof because the sun's uv rays are bad for the skin. And then "Born in the USA" comes on the radio and Bruce says he loves that song. As they arrive, Bruce throws off his chauffer#$%$ and coat and enters into a raucous crowd in jeans and t-shirt. Both going up to the terrace and the glass roof featuring a light show is applauded by all.
Well lets see, we have Mathew McConaughey endorsing Lincoln. We have numerous licensees advocating the benefits of spd glass and the protective quality of skin. We have an American icon that is an advocate of skin cancer awareness. We have the largest spd glass roof in the world being exhibited at a world event in less than a month. Wouldn't it be "smart" for the friends of the USA Pavilion in Milan 2015 to team up with Lincoln and the American Cancer Society, and have Mathew McConaughey and Brue Sprinsteen "the boss" seen arriving in the back of a Lincoln Continental adjusting an spd roof because of the sunlight, listening to "Born in the USA", to dedicate the opening of the U.S. pavilion? It doesn't get much better than that.
James Biber: "The key concept is therefore one of reuse: the digital glass roof will be resold by its manufacturer for another building."
"Unlike many of the other pavilions, we did not opt for a green roof, choosing instead a “digital” glass roof which turns dark blue or transparent on command. *This is not simply a shading system* and its 300 panels can be individually regulated as if they were giant pixels on a screen."
Have you confirmed the one time royalty with RFI or is that your opinion?
Understand the accretive issue, however I believe it has more to do with exceeding minimum annual royalties rather than volume pricing. And if my understanding is correct than that 10,000 sq. ft. is on the cheap, if Isoclima may or may not surpass mar level.
Unless something dramatic happens, it looks like we will see the money a little less than a year from now when 4th quarter results are reported..............maybe.
From World Architecture News: " It’s most striking feature is a 10,000 sq ft smart glass roof, the largest of its kind in the world. Visitors will be able to control the panels from a touchscreen tablet and the entire roof will be returned to the manufacturer, Isoclima, at the end of the Expo for reuse in other buildings. "
Aw shucks..........you caught me red handed. I'm at the top of the most sinister list.
But thanks for the clarification, you are correct, it is cash instead of fee income.
Yeah, well Joe is a natural for Dancing with the Stars. He can dance around any question as he did with Mr. Moss from MS. You were spot on with that verbal exchange. As far as the income and "film backup strategy" who knows? Now as Joe pointed out there are 30,000 slks and sls produced, he didn't make it clear in Q3 cc if that was first year initial production volume, in which production numbers have decreased each year or not. 70% of $1,598,799 is $1,119,159/150 = 7461 cars or a 20+% take rate using 30,000 slks and sls, and 6000 s coupes (just an estimated guess). Now if the production numbers are less than take rates are higher.
I may be wrong but I believe the past two cc we haven't heard a word from the CFO. Looks like Joe has put a muzzle on him. Must be in the doghouse, not getting much from Vari-guard apparently.
As far as receivables, if you ask ten different accountants the possibility of ten different answers may happen. But to take a shot at it, the receivables are added into 2014 as "fee income". When they are "collected" that amount is deducted from "fee income" for the year in which they are "collected".
From ARCHITECT magazine, March 10th 2015: "Following the exhibition’s close, Isoclima will reuse the entire installation in other projects."
Answered my own question.
Well, unless there were fees derived from other licensees, it at least tells me my take rate was conservative in my work anyway. Better off throwing darts at numbers for anyone trying to come up with figures right now.
Fee income came in 100,000 more than my projections, however lower than analyst guess. Won't make them happy. The silence is a telling sign with RFI when it comes to any fee generating activity.