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Technology Stocks : Coyote Network Systems (CYOE), Mixing It Up, IP and ATM
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To: NYBellBoy who wrote (106)2/16/1999 4:55:00 PM
From: Bruce A. Thompson  Read Replies (2) of 360
 
NYBellboy,

See if you can translate this for me. It is from the 10Q just released @ 4:16pm today.

>>>>>>>>>>>>>>>>>>>
The Company conservatively deferred recognition of $3.7 million in profit attributable to a $7.2 million equipment sale to Wireless USA, an emerging international long distance provider. The Company granted extended payment terms to Wireless USA while it seeks lease financing. The Company will recognize the profit on this sale when payment is made or all contingencies are removed.

>>>>>>>>>>>>>>>>>>

I read it to say that they are showing $7.2 MM in revenues for the 10Q but are not going to show any profits because the buyer can't get financing. Sounds to me like they are trying to "Book" a credit application.

Sounds bogus to me.

BT
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