OTCPK:EUCTF - Post by User
Post by
lscfaon Aug 28, 2015 9:25pm
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Post# 24061539
Some accounting sleuthing
Some accounting sleuthingWhen the 2013 annual results were filed the 2012 numbers were restated even though there was no explanation given.
Obviously some sg&a expenses were recategorized as costs of sales.
Does this tell us anything about cost savings going forward with the sale of GFI to the Swiss?
| | new | old | |
| | 2012 | 2012 | Difference |
| | | | |
| Revenue | 5,008,040 | 5,008,040 | |
| Costs of sales | (1,606,228) | (750,892) | 855,336 |
| Direct amortization | (1,264,615) | (339,980) | 924,635 |
| Gross Profit | 2,137,197 | 3,917,168 | 1,779,971 |
| Gross Profit % of Revenue | 42.7% | 78.2% | |
| | | | |
| Expenses | | | |
| Consulting and management | 1,219,111 | 1,518,962 | 299,851 |
| Depreciation | 55,997 | 55,997 | |
| Amortization | | 924635 | 924,635 |
| Administration | 1,079,257 | 1,078,772 | (485) |
| Sales and marketing expenses | 265,775 | 743,687 | 477,912 |
| Research and development | 481,552 | 559,610 | 78,058 |
| Public company costs | 104,567 | 104,567 | |
| Total expenses | 3,206,259 | 4,986,230 | 1,779,971 |
| | | | |
| Loss before the undernoted | (1,069,062) | (1,069,062) | |
| | | | |