Been in and out of this deal a couple of times last year and was thinking it was time again. Before investing I always go through the financials and what I found here made me sick. This company has lost $6,714,176 in the last 7 quarters ($3,559,262 in 2011 and $2,154,914 so far 2012) so I thought it would be a good idea to see where they were spending their money (or rather shareholders money). You would think that with their deep product pipeline they are always talking about that they have spent a good portion of that $6,714,176 on R&D right? I was stunned to see that total spend on R&D in the last 7 quarters was $6,667 and that was Q1 2011. In the last year and a half they have spent precisely ZERO, NADA, NIETE,RIEN ( I can say it in a lot of languages but it still means not one red cent) on R&D. So one might ask,oneself, where did all the money go, and this is where it gets really disturbing. In the last 7 quarters $3,055,737 went into generaql and admin with over $500,000 directly into Brauns pocket and if that was not enough another $1,608,831 went to stock based compensation. While they did not see fit to spend money on R&D they did spend $646,275 on promotion (read pump and dump). When I look over big trading days in the past, like today, it is ot surprising that the share price does not go anywhere despite the volume. The only explaqnation is that some core investors knew the pump was coming and they were tripping over each other to get out as fast as possible. WHY? Because they do not believe in the deal. Based on the burn rate, Braun has roughly 6 months left of cash and needs to get 14,134,125 warrants (average price 44 cents) exercised to refill his coffers, and so a new pump is underway. If I do get in it will be to short like mad on any volume spikes. One last point about the pump today is what about the theatrics? Halt the stock for what?? A release to say you got an order without any specifics? Give me a break. All numbers above are directly out of the financials filed in Canada and every investor here should check this ut for themselves before selling.
