Coil Tubing Tech Inc (CTBG)

[back2basics]

Not a good report. I wasn't aware of a downturn in the indudtry.

The increase in general and administrative expenses was primarily due to the increase in compensation expense of $113,000 for the extending the life of the stock options for key management personnel.

We had total selling and marketing expenses of approximately $473,000 for the three months ended March 31, 2013, compared to $519,000 for the three months ended March 31, 2012, a decrease of $46,000 or 9% from the prior period, which decrease was mainly due to decreases in sales commissions, automobile expenses and travel

Even though sales are down and they are nw operating inthe red, they managed to take care of the execs. And they are spending less on sales commissions and travel expences.

The trend is not our friend.

B2B