CoJax Oil & Gas (CoJax Oil & Gas) Accounts Receivable : $0.18 Mil (As of Mar. 2024)

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What is CoJax Oil & Gas Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. CoJax Oil & Gas's accounts receivables for the quarter that ended in Mar. 2024 was $0.18 Mil.

Accounts receivable can be measured by Days Sales Outstanding. CoJax Oil & Gas's Days Sales Outstanding for the quarter that ended in Mar. 2024 was 88.74.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. CoJax Oil & Gas's Net-Net Working Capital per share for the quarter that ended in Mar. 2024 was $-0.12.

CoJax Oil & Gas Accounts Receivable Historical Data

The historical data trend for CoJax Oil & Gas's Accounts Receivable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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CoJax Oil & Gas Accounts Receivable Chart

CoJax Oil & Gas Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Accounts Receivable

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0.05

0.21

CoJax Oil & Gas Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Accounts Receivable	Get a 7-Day Free Trial															0.22	0.18	0.40	0.21	0.18

CoJax Oil & Gas Accounts Receivable Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

CoJax Oil & Gas Accounts Receivable Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

CoJax Oil & Gas's Days Sales Outstanding for the quarter that ended in Mar. 2024 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	0.177	/	0.182	*	91
=	88.74

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), CoJax Oil & Gas's accounts receivable are only considered to be worth 75% of book value:

CoJax Oil & Gas's Net-Net Working Capital Per Share for the quarter that ended in Mar. 2024 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(0.069	+	0.75 * 0.177	+	0.5 * 0	-	1.415
-	0	-	0)	/	10.4659
=	-0.12

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

CoJax Oil & Gas Accounts Receivable Related Terms

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CoJax Oil & Gas (CoJax Oil & Gas) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » CoJax Oil & Gas Corp (OTCPK:CJAX) » Definitions » Accounts Receivable

Comparable Companies

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Address

3033 Wilson Boulevard, Suite E-605, Arlington, VA, USA, 22201

Website

https://www.cojaxoilandgas.com

CoJax Oil & Gas Corp is an oil and gas exploration and production company, with producing assets in Southwest Alabama. It is engaged in the acquisition and development of lower risk onshore oil and gas producing properties within the Southeastern United States.

Executives

Allan Bradley	director	539 JARVIS STREET, SUITE M2, TORONTO Z4 M4Y 2H7
Jeffrey J Guzy	director, 10 percent owner, officer: Chief Executive Officer	3130 19TH STREET, NORTH, ARLINGTON VA 22201
William Barrett Wellman	10 percent owner, officer: Chief Financial Officer	3130 19TH STREET, NORTH, ARLINGTON VA 22201
Roger Allums Mcleod	10 percent owner	1050 WOODLAND HILLS DRIVE, LAUREL MS 39440
Rosswood Capital, Llc	10 percent owner	1310 HOMEWOOD DRIVE, LAUREL MS 39440
Peter Biglane	10 percent owner	1310 HOMEWOOD DR., LAUREL MS 39440
Cojax Oil & Gas Corp	director, 10 percent owner, officer: Executive Chairman	3033 WILSON BLVD, SUITE E-605, ARLINGTON VA 22201

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