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  "documentTitle": "Maxar Technologies (MAXR)",
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  "authorName": "Ben Axler",
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  "notes": "The red box highlights the 2015-2016 period where receivables past due and notes receivable increased significantly.",
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      "text": "We observe a worrisome rise in accounts past due by 90 days as of its last disclosure on Dec 31, 2016 prior to announcing the DigitalGlobe deal Feb 2017.",
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      "text": "Accounts Receivable Aging: $70.4",
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      "text": "\"Trade accounts receivable, notes receivable and non-securitized orbital receivables include amounts totaling $113,325,000 (December 31, 2015 - $45,744,000) due from two customers in the Communications segment who are in process of securing external project financing to fund their respective satellite construction contracts signed with the Company. Of this amount, $38,193,000 (December 31, 2015 - $29,732,000) is included in trade accounts receivable that are past due. The Company has concluded that these receivables were not impaired at December 31, 2016.\"",
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      "text": "\"As at December 31, 2016, notes receivable include $69,144,000 (December 31, 2015 - $7,717,000) relating to payments due under a satellite construction contract. In accordance with the terms of the contract, the customer elected to convert certain milestone payment obligations into interest bearing notes receivable with extended payment terms\"",
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      "text": "MDA discloses in its Annual Report the aging of receivables. We observe a worrisome rise in accounts past due by 90 days as of its last disclosure on Dec 31, 2016 prior to announcing the DigitalGlobe deal Feb 2017. In addition, MDA's note receivables show signs of stress from customer's inability to pay.",
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      "text": "Trade accounts receivable, notes receivable and non-securitized orbital receivables include amounts totaling $113,325,000 (December 31, 2015 - $45,744,000) due from two customers in the Communications segment who are in process of securing external project financing to fund their respective satellite construction contracts signed with the Company. As at December 31, 2016, notes receivable include $69,144,000 (December 31, 2015 - $7,717,000) relating to payments due under a satellite construction contract. In accordance with the terms of the contract, the customer elected to convert certain milestone payment obligations into interest bearing notes receivable with extended payment terms — MDA Annual Report",
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      "text": "Worrisome Aging of Receivables, And Ballooning of Note Receivable",
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