RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:2nd quarter earningsHmmm, lots of positive takeaways from this but enough of a negative to cause a significant dip. It's ok, take advantage of the dip to reload and it'll be back up in no time.
A couple things (actually, the same thing said twice) caught my eye re: the change of leadership and the re-absorption of R&D back into Photon Inc. Let me paste them in here.
Finalized the business combination with the former Photon Control R&D Ltd. ("Photon R&D") business
Operating expenses of $4.3 million and $9.0 million for the three and six months ended June 30, 2017 include significant one time charges of $1.8 million and $4.2 million, primarily from three distinct activities:
Corporate Changes related to changes to the Board of Directors, CEO and the leadership team, including certain litigation costs, totaled $0.8 million for the quarter and $2.8 million year-to-date. Charges related to the acquisition of certain assets of Photon R&D and settlement of all disputes with the former Photon R&D and its principals totaled $0.6 million for the quarter, and $1.0 million year-to-date.
So I read it as a portion of those costs are a settlement with Dueck, the Weston's and Michael Goldstein. Now, I will not be able to make the Conference Call and I'm wondering if there is someone here who can ask if that means that Photon is 100% free and clear of any costs, ongoing or future involving those four and R&D. I guess I just need to hear that we are truly done with that chapter in every way.
GTLA