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Technology Stocks : GALTECH SEMICONDUCTOR MATERIALS CORP. (GTSM)
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To: Mahatmabenfoo who wrote (300)5/13/2002 10:00:25 AM
From: gammaray  Read Replies (1) of 394
 
The copied post from another board below provides good support that r and d was indeed performed during the 4th quarter of 01. I have deleted the last 2 sentences and the first couple of par due to battle remarks between warring factions.
---------------------------------

The 10k was audited by HJ and Associates of Salt Lake City. You can play word games with descriptive literature but the audited numbers clearly support the statement that $91,795 was indeed spent on r and d as follows .

###########Dec 31, 01#########Sept 30,01#####4th qtr 01

Balance Sheet:
Inventory##$85,708#############$177,503######$91,795

Statement of Ops:
R & Dev####$91,795#############$-------######$91,175

Cash Flow
(Increase)
Decrease in
Inventory##$91,135################($660)######$91,175

*Inventory is made up largely of raw materials for crystal growing and was essentially unchanged for the first 3 quarters of 01. Pratt squandered the first 2 ½ qtrs of the year and that is one reason he was forced to resign. No R and D took place in the remainder of the 3rd qtr due to relocating the facilities. The expenditure of $91,795 on r and d during the 4th qtr is very positive and shows real progress. The financial statements have been audited and they say that R and D spending grew big time on a relative basis in the 4th qtr.
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