RE:re: kid2 Instead of giving me “graciously “ the benefit of the doubt since I have been around a long time, you may want to look at plain and simple facts.
My beef isn’t with start-up costs even though the impairment costs are shocking by any measure. My beef is with actual operating costs which mysteriously appeared in Q4 clear out of no man’s land.
Y/E financial show Q4 revenue of $490,261 with a never before seen
cost of sales and an increase of year to date operating expenses of $1,026,464.
Nearly $ 1.5 Mil in expenses came out of nowhere in Q4 EXCLUDING write downs / other items.
Yes, reorgs typically have some start-up accounting adjustments BUT this $1.5Mil adjustment” in operating expenses is well beyond anything I have ever seen before.
So, either the BOD who signed off on previous statements doesn’t have a clue or they agreed to “manufactured” statements. Either possibility makes them incompetent / untrustworthy in my books.
Yes, the UAV concept remains intriguing / promising but given all these unanswered questions in terms of financial reporting, UAV has gone from risky MC investing to MC gambling in my books.
PS: Feel free to dissect my posting history not just here but also on SI. I don't “object” without having my facts lined up.