I do not dissemble when I commit errors because that would affect my credibility; which matters to me more than trying to appear that I am right all the time. Although I try and get things right, as a human being, I make errors. When I do, I admit it, correct it, and move on. It was what I learned as a kid, what we did in my Fortune 50, and what I do on this board; and it is what this post is all about. It's not about being right, it is about getting it right.
With that, a little recap would help to indicate how we got here…
There was the allegation that Elite spent “nearly” $100M in R&D during Nasrat’s tenure…remember?
Then, without researching the other years in question, we have this inference…
So, how about a common-sense test that includes ALL the years? Was that not the matter in question – how much Elite spent on R&D during Nasrat’s tenure? Well, did Elite really spend “about” $100M on R&D during Nasrat’s tenure?
NO!
What do the amended year-end total R&D numbers look like? 2020: 5,532,462 (Correctly ID) 2019: 7,599,820 (Correctly ID) 2018: 9,621,365 (Correctly ID) 2017: 8,301,693 (Correctly ID) 2016: 12,428,213 (Amended from 2,903,178) 2015: 14,727,472 (Amended from 2,904,114) 2014: 3,959,316 (Amended from 2,105,725)
The amended total R&D costs during Nasrat’s tenure = $62,170,341
So…Even after the corrections, the real total R&D costs of $62,170,341 are NOT remotely close to the alleged $100M. In fact, according to the standard college grading scale…62% of 100% is a D minus!