The numbers I posted were cash. They were the actual operating expenses for R&D and G&A from the annual reports. Derivative losses over that period were another $30+ million on top.
Over those years almost $13 million of real cash money disappeared into G&A with no plausible explanation of where it went. That's twice what went into R&D.
Look at the most recent videos from Cyclone. What you see may look like something thrown together from scavenged materials by a hobbyist, but is actually the product of about $25 million in accumulated (cash) operating losses.
And this is after years of Cyclone telling investors they have a family of "market-ready" products.
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