AGM ????We need to go to the AGM and let them know we are not happy with high intrest debentures and this practice of issuing stock options stock bonuses only on results..... $230,000.00 intrest at 12% ouch.... administrative expences $300,000.00
equipment intrest..... WHY
>Other expenses for the twelve month period ended January 31, 2011 were $2,197,889 as compared to $1,011,354 in fiscal 2010 or an increase of $1,186,535. The increase was mainly the result of: higher impairment charges recorded on the Company's RPS activities (+$438,000), interest and costs associated with the Company's 12% debenture which was not in place in fiscal 2010 (+$230,000), higher foreign exchange losses as a result of the strengthening of the Canadian dollar (+$88,000), higher stock based compensation expenses as a result of options awarded to new management, directors and consultants (+$83,000), higher general and administrative expenses as a result of the increased activity in the Company's operations (+$300,000) and higher equipment interest expense (+$47,000).</P>