Expenses at MPIX are out of control and particularly the growth in expenses. For example, I compared MPIX expenses in MPIX's 2nd Quarter (April, May June) with MPIX's latest 3rd Quarter filing (July, August, September.
In Q 2, salaries were $60,670 and for Q 3 salaries were $370,918.
In Q 2, professional fees were $33,774 and in Q 3 professional fees were $93,399. MPIX needs to explain what professional fees are, and why these fees are up 200% quarter over quarter.
In Q 2, selling expenses were $871 and in Q 3 selling expenses were $256,622. I don't understand how a company can post selling expenses of $871 in one quarter and $256,622 in the next. Management should explain these expenses and why there is such a huge difference from one quarter to the next. This makes no sense. Who was paid and for what?
Finally, in Q 2 MPIX lists "other administrative costs of $22,879 and for Q 3 lists other administrative costs of $90,700......up more than 400% from the previous 3 months.
Keep in context that MPIX's expenses over the last 3 months have gone through the roof. When you look at the rapid growth in MPIX's overhead costs, and consider MPIX has $0 revenue coming in the door, net losses are accelerating big time, and peeps are oblivious to this fact.
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