During the year, the Company sold diamonds to the value of $699,641. As the Company is not yet in steady state production, sales of diamonds are not disclosed as revenue.
The whole purpose of the company is to sell diamonds. To the simple minded, surely therefore the sale of diamonds is revenue. Could somebody with knowledge of accounting principles explain what the logic is here? Is it a reflection of some cunning scheme?
MED Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
