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Non-Tech : Starnet (SNMM)Online gaming, sexsites, lottery, Sportsbook
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To: steven abrams who wrote (184)4/15/1998 4:10:00 PM
From: Drake  Read Replies (1) of 8858
 
Also Starnet had to expense the R&D

US and Canadian GAAP principles differ.
SNMM had to swallow close to $2 mil in R&D in its first year while CRYP (being in Canada) was able capitalize their R&D over 5 years. The last 10Q for SNMM would have looked far better otherwise. In relation to the time it took SNMM to see a profit compared to CRYP they (SNMM) is farther ahead, also, it was not that long ago that CRYP had a loss in the quarterly's so it goes to show how fast things can turn around.
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