Viscount Systems (VSYS)

[finrafriend]

Aside from a lack of information what is available seems confusing or misleading especially relating to cash.

In that vein I reread the 10k on the weekend and found more stuff that doesn't make sense. For example:

"Selling, general and administrative expenses for the years ended December 31, 2014 and 2013 were $5,624,312 and $3,064,786, respectively, an increase of $2,559,526 or 83.5%. Included in the selling, general and administrative expenses for the year ended December 31, 2014 was $1,519,950 of non-cash stock compensation expense for the issuance by the Company of warrants and stock options to management, staff and consultants. Excluding this non-cash compensation expense from selling, general and administrative expenses, the year ending December 31, 2014 would result in a total of $4,104,362, respectively, a significant reduction in true selling, general and administrative expenses, excluding the non-cash charges." (bold italics added)

So if "cash" SG&A was $3,064,786 in 2013 and $4,104,362 in 2014 how can this represent a "significant reduction in true selling, general and administrative expenses."

Am I reading this wrong or is this more misleading excuse making crap?