Between administration expenses, royalty payments to MSO, R&D, and divy payments, I don't see this 3.3M going very far. Their last QTR revenues were barely over 200K, so they'll have to start making many times that amount to become profitable.
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The net result for the quarter ended September 30, 2013 was a loss of $3,058,571 or $0.05 per share which included a preferred dividend on the Series G stock in the amount of $374,900, compared to a loss of $1,648,689 or $0.04 per share for the third quarter of 2012. The net loss for the third quarter of 2013 increased by $1,409,882 or 86% as compared to the third quarter of 2012, primarily due to an increase in selling, general and administrative expenses and accretion of debt discount and increased interest expense due to additional debt outstanding. Management will continue to make an effort to lower operating expenses and increase revenue. The Company will continue to invest in further expanding its operations and a comprehensive marketing campaign with the goal of accelerating the education of potential clients and promoting the name and products of the Company. Given the fact that most of the operating expenses are fixed or have quasi-fixed character management expects them to significantly decrease as a percentage of revenues as revenues increase.
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