RE:RE:RE:RE:Why Are They Hiding R&D Off The Books?cyndor1 wrote: So Pone, to your real focus about PHO's R&D in 2008 (all in Sedar of course):
"The engineering, research and development expenses relate to shared space provided by Photon. Amounts outstanding with the private entity are non-interest bearing, unsecured and due on demand. Photon’s transactions with the private company were as follows: Photon: Years ended December 31, 2008 2007 Balance Sheet: Accounts Receivable from $ 468,470 - Accounts Payable to 367,792 - Net Receivable 100,678 Statement of operations: Recovery of related expenses $ 468,470 - Less Engineering, research and development services 367,792 - Net Transactions 100,678"
Hopefully that gave you what you were looking for.
What I really want is an explanation from the company about why this entity exists at all. One possible reason might be to structure R&D so that they obtain the best possible tax benefits.
A bad reason would be to make the earnings look better than they actually are.