LOL! Did you read the 10K? What a joke this guy is, $6.1m in operating expenses all attributable to SHARES OF COMMON STOCK ISSUED AS COMPENSATION! Does the net loss say they've lost $700M since inception!? Don't hold your breath folks, Giorgio is making millions and selling shares to do it. What start up do you know that thinks you should pay people 6 figure salaries before you even have an office? Go NYXO! Great for trades, though, many have boughtthe bottom and sold the run. Probably will happen again.
Operating Expenses
During the year ended December 31, 2013 we incurred $6,131,955 in operating expenses, compared to $1,193,611 for the year ended December 31, 2012. This increase in operating expenses for December 31, 2012 compared to the same period in 2012 is a direct result of the value attributable to shares of common stock issued as compensation to officers and, to a lesser extent, shares of common stock issued as compensation to various consultants. All other expenses incurred during 2013 were substantially less than during 2012. Our highest operating expense for the year was $5,229,167 for officer compensation, which reflects this issuance of common stock. Our expenses for consulting services during the year ended December 31, 2013 were $538,009, compared to $145,032 for the year ended December 31, 2012. Professional fees were $165,143 for the year ended December 31, 2013, compared to $245,047 for the year ended December 31, 2012. Salaries and wages were $157,487 for the year ended December 31, 2013, compared to $502,995 for the year ended December 31, 2012. General and administrative expenses were $13,786 during 2013, compared to $33,702 during 2012. Rent expense was $11,469 for 2013, compared to $78,910 for 2012. We incurred $11,100 in depreciation during 2013, compared to $11,803 for 2012. Our travel and entertainment expenses during the year ended December 31, 2013 were $4,549, compared to $51,340 for the year ended December 31, 2012. Our promotional and marketing expenses for the year ended December 31, 2013 were $345, compared to $37,575 for the year ended December 31, 2012.
Net Loss
During the year ended December 31, 2013 we incurred a net loss of $7,240,741. By comparison, we incurred a net loss of $2,210,995 during the year ended December 31, 2012. Since July 8, 2010, the inception date of Nyxio, through December 31, 2013, we have generated revenue of $85,903 and have incurred a net loss of $714,547,612. Our greatest challenges which have prohibited us from executing our business plan are as follows:
· Lack of adequate funding to obtain a small inventory, establish a healthy PR campaign, recruit a world class management team, and fund future development to enhance current product features and new products to stay ahead of the technology curve.
· Manufacturing in Asia – Too far away to monitor quality and suppliers without costly travel.
· Lack of adequate funding to retain skilled sales team.
Our current and future operations are focused on continuing to carry out our business plan through the marketing and continued development of our current products, including the VioSphere, Realm, RealmPro, Venture MMV technology and Vuzion Android TV, and our future products, continued development efforts, and the continued evaluation of potential strategic acquisitions and/or partnerships.
