Analysts.. Mgmt may "believe" alot of things but that doesn't make them come to fruition.. Remember last year they believed they would attain revenues of $10 million.. I think they missed that just a tad..lol.. Anyway, again I ask, where are all these royalty payments and revenues that everybody told us last quarter would be rolling in this quarter?? Are we now to expect them NEXT quarter?? Further when do you foresee this company EVER reaching profitability?? Quite frnkly, I just don't see it happening...EVER.
The biggest reason is their margins.. The company has decreasing gross margins as mentioned in the excerpt from the Q3 10Q below. And by the way, I think they've used these exact same comments for the past 2 10Q's..lol..
Gross margin increased to $460,282 in 2007 compared to $169,052 in 2006, an increase of $291,230. This increase was a result of the increase in product sales during 2007. However, gross margin as a percentage of product sales decreased to 29% in 2007 compared to 38% in 2006. This decrease was a result of the significant increase in sales of the BioVault™, BioLock, and related components and accessories during 2007. These items had a lower gross margin than the other biometric products that comprised 2006 product sales. We plan to reduce the costs to produce the BioVault™ and BioLock, and thus increase each item’s gross margin, by reengineering these products. The increase in other product related costs during 2007 was a result of the significant increase in sales of the BioVault™, BioLock, and related components and accessories.
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