RJ.......I think the sales numbers are better, but let's look at your theory. 5 sales each in two quarters and 1 sale each in the other 2 quarters, for the year.
That would be 12 sales for the year. To rough out some numbers, based on history and recent information, assuming all direct sales.
12 X $300K/sale = $3.6 million
Cost of sales = $1.2 million
Gross margin = $2.4 million
Operating Expenses = $1.0 million
Net Profit = $1.4 million
Cash flow would be even greater, due to some non-cash items that are included in operating expenses.
That would sustain FASC AND payoff almost 2/3 of all of the debt in one year....with those numbers that you presented.
As for the auditors and SEC reports......this is from the last 10K, page 39.
The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for our audit of annual financial statements and review of financial statements included in our Form 10-Qs or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years was:
2011 $ 42,500 BehlerMick PS. 2010 $ 39,500 BehlerMick PS.
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