OTCPK:TNGZF - Post by User
Comment by
pierrelebelon Dec 27, 2016 12:08pm
187 Views
Post# 25644747
RE:Operating expenses
RE:Operating expenses "Why are operating expenses so high?" The answer to that question is found in the May 27,2016 release announcing the terrible results of the first quarter.
"
Operating Expense Total operating expenses were $1,058,000 for Q1 2016, compared with $521,000 for the same period last year. The change is primarily due to increased salary and benefits related to a new managing director, an additional investment team member, and bonuses paid based on 2015 results. Additional extraordinary cost includes a one-time consultancy expense for the IFRS 9 conversion and portfolio fair value valuation reports.