Pounce Technologies Inc. V.POI.H

RE:Financials

[cjandaway]

Its burn rate for the quarter was much higher than what I was expecting as well; however, there was a one-time termination cost and various professional fees relating to financing activites during the first quarter which totalled more than $1,286,650 ....

The increase for the three-months and six-months ended April 30, 2016 was due to one-time termination costs paid by the Company to members of the previous management team and other staff terminations which totaled to $586,650. The Company also incurred over $800,000 in various professional fees relating to financing activities during the first quarter that was unsuccessful. All those costs have been expensed and are included in the total expenses for the six-months ended April 30, 2016;