From the filing dated May 15th,
Selling, General and Administrative Expenses. Selling, general and administrative expenses increased by approximately $1.1 million, or 163%, in the three months ended March 31, 1998 to approximately
$1.7 million from approximately $662,000 during the same period in 1997. Sales and marketing costs increased and will continue to increase as the Company further facilitates acceptance of its products in the marketplace. Customer support staffing and related costs increased during the three months ended March 31, 1998 compared to the same period in 1997 to support installation activities for systems
shipped in the fourth quarter of 1997 and the first quarter of 1998. A non-cash compensation charge of $340,000 was recorded in the three months ended March 31, 1997 and a non-cash consulting charge of
$141,000 was recorded in the three months ended March 31, 1998. Increased costs of administrative and finance staff as well as increased professional fees, which increases are a result of the Company's growth, becoming a publicly-traded company and the increased size and complexity of operations, have contributed to the net increase of general and administrative costs. The Company expects to continue to expand rapidly the sales and marketing staff in 1998 in order to implement an aggressive marketing plan during the third and fourth quarters of 1998, which the Company expects will continue to increase costs. Additional administrative personnel will also be required to support the sales and customer service and support activities of the Company over the coming months.
OCOM's plan has been thrown out the window.
The Company expects to continue to expand rapidly the sales and marketing staff in 1998 in order to implement an aggressive marketing plan
They have failed so miserably that the exact opposite has occured.
OCOM was listed as the 7th largest percentage NASDAQ loser yesterday in our paper. |
