OTCPK:VGLIF - Post by User
Post by
Nemesis01on Feb 08, 2010 2:09pm
562 Views
Post# 16763289
Results are out!
Results are out!Another loss! Anyone surpised?
My favourite part:
- Grew year to date revenue 9% to $3.25 million compared to the same period ended December 31, 2008
Then further down:
Three months ended
December 31, December 31,
2009 2008
----------------------------------------------------------------------------
Revenue $ 695,179 1,246,738
Now they have two problems; expenses are too high and now they have no revenue. They are on the right track though:
Operating expenses for Q3FYE10 were $536 thousand, down 7% from $580 thousand in the same quarter of the prior year. The decrease relates to a decrease in insurance costs, lower payroll costs as a result of restructuring in certain departments and lower trade show expenses.
Now that they have restructured departments they need to restructure management and the board. Not going to hold this dud for much longer.