Myth, read it... it's last yrs report and much has changed in the stem cell industry since then. I don't see the problem.
If you're a bean-counter and want to pick over the not so clouded numbers that's one way of going through it.
However, I prefer to look at the mission statement. I see cost reductions to offset sales reductions. Seems like a fair and accurate assessment of the economic conditions back then. I see where efforts to get the Adipose and Peripheral end of the business going; I think that's smart. I also see a push to make cord bigger in the revenue-stream going forward; again smart idea.
I see this CEO running this business as his main bread & butter to support his family based on the language in that 10Q. I like that attitude so thanks for sharing.