SmartMetric Inc (SMME)

[ranger2118]

Annual report question.

I quickly ran through the report and I am a little surprized that of all cash burned in the year 2013 only aprox 25% went into R&D and in the year ending June 2014 only aprox 15% went into R&D.

Appears very little to me for an R&D company.

Below the numbers I am referring to

Results of Operations



Comparison of the years Ended June 30, 2014 and 2013



Revenue and Net Loss



For the year ended June 30, 2014, there was no revenue and a net loss of $3,349,347. For the year ended June 30, 2013, there was no revenue and a net loss of $4,688,217. This decreased loss of $1,338,870 or 28.6% resulted primarily from lower general and administrative expenses.



General and Administrative Expenses



General and administrative expenses for the year ended June 30, 2014 were $2,669,693, a decrease of $685,105 or 20.4% compared to $3,354,798 for the comparable period in 2013. This decrease was primarily attributed to lower consulting expenses.



Research and Development Expenses



Research and development expenses for the year ended June 30, 2014 were $489,654, a decrease of $646,265 or 56.9% compared to $1,135,919 for the comparable period in 2013. This decrease was primarily attributable to lower engineering expenses.



Income Tax Expense



Income tax expense for the year ended June 30, 2014 was $0, unchanged from the comparable period in 2013.