US Stem Cell Inc (USRM)

[Dragon Lady]

Trial expenses get "expensed" to the "R&D" line in a financial statement. If MIRROR enrollment was being paid for, it'd be expensed under the R&D line, that's what a "trial" is, it's research and development costs. Not "cost of sales" or some other expense?

There is little or no "trial" spending going on, as the total "R&D" expense line is about $5K a month. Look at past filings when they were running actual "trials", as in FDA type trials. That R&D line was many multiples of that. Just in the same period 2013, it was $172K versus this paltry $15K.

They can't "hide" or "wash" supposed "trial spending" under some mysterious part of their financial statements or hidden place in the 10-Q? That's not how it works.

There's some good web sites and good books at any library on reading and understanding things like basic "financials" (commonly known as a set of financials or financial statements for a business)- typically a balance sheet, an income statement, a statement of cash flows and probably stockholder's equity. There's a few variations, but those are the jest of a typical set of "financials". That's the "snap shot" of pretty much everything key in terms of money coming in, money going out, expenses, income/revenue, interest paid, short and long term debt, etc. In this 10-Q filing, it's pretty much pages 4, 5, 6 and 7. Read those.