Chemesis International Inc C.CSI.U

RE:RE:revenues Vs cost of goods..9.3% margins

[vito84]

I agree with your analysis.  To add, the big ticket expenses of share-based payments and listing expense are non-cash items.  Most finance geeks will see that.  Actual loss for the quarter is around $900k once adjusted for those items.  Not bad for a start up.  Revenues better than expected (was anticipating under $1m).  Working capital is at $2.4m (I was aniticipating a w/c deficit over the first year as operations build out).  One solid financing and these guys should be off to the races.  Time will tell.  GLTA.