I see the development tax refund almost exactly covers their general and administrative expense, which increased from $116k for the 9-months-previous a year ago, to $379k for the 9-months-previous January.
It does seem to me their cost of sales is very high, but it works out to 76%, which is in line with their declared 28% "core margin".
Looking for any mention of the Alabama deal, and still haven't got to current staff, which would include the alabama ceo if that deal was done, and if it isn't that means it probably fell through, as I anticipated.
