Wednesday, September 11, 2013 11:53:14 PM
Mantra really seems to do a good job at managing expenses though, keeping operating costs at a minimum. First 9 months of the fiscal year they came in at just over $1.1 million with almost 40% of that going to R&D and 25% of that going to "management fees" which are to pay Larry, et al. However the majority of those fees I don't believe are being paid out but rather being reflected as a non interest bearing liability to be paid out at a later date (when MVTG really takes off of course :). Other than that there is really no major expenses except for keeping record keeping and keeping the filings up to date.
Should have information through 5/31 readily available though soon with the annual filing to be done by 9/15 and of course the $600k+ cash committed by Alstom to their projects may reduce the need for as much share issuance this year.
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