Regarding Q3/2024 Financials & The GRA.T Share Price Q3/2024 overall adjusted EBITDA of $571,968.00, as compared to $ 451,705.00 during Q3/2023 and overall adjusted EBITDA of $30,830.00 for YTD 2024, as compared to - $1,384,027.00 for YTD 2023.
It's somewhat reassuring; and yet, not really a surprise though; this after considering that company management had let it be known during a prior quarterly conference call that approximately $2,000,000.00 of additionally expected revenues would be realized at some point during the remaining two quarters of fiscal 2024, as derived from that Canada, Quebec SMC product facility expansion which was in great part owing to one unnamed customer that also paid for the equipment costs relating to said expansion.
As entirely expected VoltaXplore presented as that immensely increased -$688,022.00 NanoXplore balance sheet drag on the company overall adjusted EBITDA, a loss from VoltaXplore operations which was up from $18,270.00 since Q3/2023.
What I would like to know is how it could be that any expense from NanoXplore buying out Martnrea's 50% of the VoltaXplore enterprise also leads to NanoXplore incurring what appears to be explained as "the the full tilt" of previously ongoing and previously incurred VoltaXplore administrative and R&D expenses?
Presumably, given that the administrative and R&D expenses incurred are being attributed to a period before Martinrea International bailed out of the VoltaXplore enterprise with $10,000,000.00 + worth of NanoXplore equities having been paid to Martinrea in exchange for what was then Martinrea International 50% of VoltaXplore, why are such particular administrative and R&D expenses being expensed now, nearer to an entire fiscal year later, and being borne entirely by NanoXplore alone?
Somebody needs to be made to satisfactorily explain why $688,022.00 worth of administrative and R&D expenses attributed to a sale which had occurred nearer to a fiscal year ago and when Martinrea International was expected to bear it's 50% of all costs associated with the VoltaXplore enterprise, are now being expensed by NanoXplore alone during Q3/2024.
What's more, the markedly increased Selling, General and Administrative expenses of $497,988, due to additional hadcounts and higher wages, including higher accrued variable compensation, is demonstrating how such expenses would be markedly increasing going into Q4/2024 and fiscal year end.