dig a little deeper into the 10K
Annual fee for outside Board membership and meeting attendance
restricted common stock valued at $25,000
Annual fee for audit committee chair
restricted common stock valued at $8,000
Annual fee for compensation, nominating and other chairs
restricted common stock valued at $6,500
Annual fee for committee membership
restricted common stock valued at $5,000
if you do the math this works out to be about 40 million shares to be issued for services in 2008
add the 2007 shares of about 2 million
add weisels shares about 22 million
add gartlans shares about 16 million
that's about 80 million shares excluding cornell conversions
I'd guess that at the end of next year they'll have issued about 200 million additonal shares
also look at the income statement - margins are down on increased revenues and they lost $3.2 million from operations.
without the $600k from cornell they'd have negative cash of $400k
the other income expense is meaningless
other income of $1.8MM is ABB
derivative income is due to fall in share price, not real $ they can spend
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