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Boston Automation

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BOSTON AUTOMATION SYSTEMS, INC. 1)     Glenda division: Selected transaction Equipment manufacturer. Customer acceptance to occur after the equipment is received and tested by the customer. If equipment fails to meet the customer’s specifications, customer may return it back for a full refund or replacement within 90 days. Payment by the customer is due under the division’s normal payment terms, 30 days after the customer acceptance.

a) Trycom Inc.  Placed an order for a standard model of the division’s main product.  Acceptance was based on product meeting the division’s published specifications.  Demonstrated before shipment – equipment met the required specifications. Revenue recognition – Revenue can be recognized as soon as shipment reaches the customer as the acceptance was based on product meeting the specifications which the division has already tested before shipment. White Electronics Company Placed an order for standard product modified as necessary to fit into a space of specific dimensions, with no compromise wrt performance.  White Electronics may reject the product if it does not fit to the specific dimensions.  Glenda Division created the Testing chamber of the exact dimensions specified by customer to test the design modifications. – Success, performance as well as dimensions. Revenue recognition – Revenue cannot be recognized as the acceptance is based upon the condition that the product must fits in the dimensions specified at the customer’s factory. So revenue recognition only after customer tests the product and is satisfied. Silicon Devices Inc. Placed an order for standard product modified as necessary to be integrated to new assembly line, with no compromise wrt performance.  Customer may reject the product if not satisfied by the performance or if the product cannot be satisfactorily integrated into the new assembly line. 

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