Operating Expenses - For the fiscal year ended June 30, 2014, our total operating expenses were $6,834,417 as compared to $11,513,789 for the fiscal year ended June 30, 2013. Included in our operating expenses for the fiscal year ended June 30, 2014 was compensation costs of $3,994,514 of which $412,263 was accrued and not paid. Other significant operating costs we incurred during the year ended June 30, 2014 included research and development of $117,236, marketing of $111,381, rent of $887,639, other general and administrative costs of $1,186,639 and professional fees of $537,008. The main change in operating expenses is contributed to the decrease in labor intensive framing activities.
