How thoroughly negative of you Iggy. Not unusual...and vaguely famliar.
As pointed out in the 10Q “The books closed before revenue was official inked in the 2nd qtr. Accounting rules are somewhat complicated on revenue received and inked into the books.”
So, I interpret that to mean that concentrate (A fine, powdery product of the milling process containing a high percentage of valuable metal) or dore (gold and silver bullion that remains in a cupelling furnace after the lead has been oxidized and skimmed off.)
was sent off to the smelter ( A furnace in which the raw materials of the first batch are melted.)
and then refined (A facility in which relatively crude smelter products such as blister copper are refined and emerge as acceptably pure products.)
and then sold for cash.
Then part of that cash from the first production gold/silver sales was used to pay the $83,000 lease payment...(as per the June NR ) but was only officially on the books after the end of June 3oth, the end of the second Quarter 10Q release.
By reasoning of deduction, it is plausible to conclude that subsequent shipment/s will soon be, or have been made since the end of June, and that they will continue to be made and will increase in number and grade with every month that passes until optimum efficiencies and volumes are achieved. As per the above, no official cash flow was available by the end of Q2 for that 10Q. It is reasonable to assume that production post June 30th is now a continuous revenue stream for SFMI….that will be either news released of officially reported in the next 10Q.
As a long holder of SFMI it is my opinion that very positive news will be forthcoming between now and Sept. 17th.
As for "thieves, murderers..etc."...that is scary indulgence indeed!
