Fibrocell Science Inc (FCSC)

[BuyOnDips]

laltrader I agree the word squander in my post was a bit harsh. In the end, I have lost faith in management. I do hope a buyout offer comes soon.



From page 36 of the lates 10K. Large pay raise this year? Pernocks pay appears to be lumped in with the total. For whatever reason he does not want it revealed. This is where some of the cash went.


Year Ended
December 31, Increase
(Decrease)
2011 2010 $000s %
(in thousands)
Compensation and related expense
$ 4,687 $ 2,501 $ 2,186 87 %
External services – consulting
693 942 (249 ) (26 )%
Marketing expense
3,820 157 3,663 2,339 %
License fees
805 17 788 4,681 %
Facilities and related expense and other
3,206 2,899 307 11 %









Total selling, general and administrative expense
$ 13,211 $ 6,516 $ 6,695 103 %










Selling, general and administrative expenses increased by approximately $6.7 million, or 103%, to $13.2 million for the year ended December 31, 2011 as compared to $6.5 million for the year ended December 31, 2010. The increase primarily consists of an increase in stock compensation expense of $1.8 million, an increase in salaries of $0.4 million, an increase in marketing expense of $3.7 million in preparation of the launch of LAVIV and an increase in license fees of $0.8 million for FDA product and establishment fees. Consulting fees decreased $0.2 million due to the hiring of key personnel offset by an increase in office expense.



36