Trans-Pacific Aerospace Company Inc. (fka TPAC)

[flemsnopes]

So you find the posting of an unedited excerpt from the current 10Q to be hateful, deceitful, unhappy and miserable? That's quite a serious charge if your goal is to promote TPAC, but I assume you're suggesting I shouldn't do something so depressing as carefully reading the filings. As for my skepticism about the spin frequently found in press releases, I can only reply; I did the naive "flower child" thing back in the sixties, but then I grew up.

My post to which you replied:
Results of Operations

Three Months Ended July 31, 2011 and 2010

We have not commenced revenue producing operations and do not expect to until the second quarter of 2012 at the earliest, at which time we expect to commence the distribution of Godfrey’s line of spherical bearings. During the three months ended July 31, 2011, we incurred $328,324 of operating expenses compared to $438,960 during the three months ended July 31, 2010. Our operating expenses consist primarily of general and administrative expenses. The decrease in operating expenses from the second quarter in fiscal 2010 to the second quarter in fiscal 2011 was attributable primarily to a decrease of $234,358 in stock-based compensation to our executive officer, independent directors, and consultants, offset by an increase of $72,143 in travelling fees, design fees, and outside service fees. We expect our operating expenses will significantly increase at such time as we commence the distribution of Godfrey’s spherical bearings.


During the second quarter of fiscal 2011, we incurred a net loss from continuing operations of $336,529 compared to a net loss from continuing operations of $588,017 during the comparable prior year period. The decrease in our net loss in the second quarter of fiscal 2011 was attributable primarily to the decrease in stock-based compensation, offset by the increase in travelling fees, design fees, and outside service fees.

Nine Months Ended July 31, 2011 and 2010

During the nine months ended July 31, 2011, we incurred $1,369,930 of operating expenses compared to $1,510,229 during the nine months ended July 31, 2010. The decrease in operating expenses from the nine months ended July 31, 2010 to the comparable period in 2011 included a decrease of $492,644 in stock-based compensation offset by an increase of $243,927 in professional and consulting fees, travelling fees, wages, design fees, and outside service fees. During the nine months ended July 31, 2011, we incurred a net loss from continuing operations of $1,487,153 compared to a net loss from continuing operations of $1,688,972 during the comparable prior year period. The decrease in our net loss during the nine months ended July 31, 2011 was attributable primarily to a decrease in stock-based compensation offset by the aforementioned increase in operating expenses.