Frank's Tea Party Revolt

[followinsnsr]

Meanmikeca, lol this company is paying $3000 a quarter for rent expense. That's $1000 per month, that's even less then the cost of renting a decent boiler room.

Our expenses for the quarter ended June 30, 2007 consisted of, research and development fees of $24,800, legal and professional fees of $17,915, payroll expenses of $45,000, operating expenses of $5,664, rent expense of $3,000, depreciation expense of $6,301, amortization of loan costs of $1,758,159, interest expense of $89,922, and other expenses of $ 2,622. The increase in expenses of $1,171,654 for the quarter ended June 30, 2007 as compared to the expenses for the quarter ended June 30, 2006 is primarily due to decreases in non-cash options/warrants expenses, and legal and professional fees, combined with an approximate $1,500,000 increase in amortization of loan costs, which resulted from the default notice received from Cornell Capital Partners, LP.
http://biz.yahoo.com/e/070820/aotl.ob10qsb.html