Good news: INCE's GS&A Expenses only increase 55% during the six months ending 3/3/98 over the same period last year. What a relief! "Way to manage those corporate assets!"
I wish INCE/NPCT's mgt. team was 1/10th as good at making money as they have proven they are at spending money. "For the six months ended March 31, 1998 general and administrative expenses increased by 55% to $4,592,000 compared to $2,962,000 in the six months ended March 31, 1997."
For a shell, that owns no "real property", has no R&D department, and has fewer than 10 employees.... they go through money like it's going out of style.
BTW - for those keeping track of the number of shares outstanding, and the accumulated deficit (INCE 3/31/98 INCE Balance Sheet):
1) As of September 30, 1998 there were 37,770,634 shares of the registrant's sole class of common shares outstanding.
2) Accumulated deficit (33,180,000)
From INCE's 10Q, which was released today:
GENERAL AND ADMINISTRATIVE
General and administrative expenses increased by 41% to $1,479,000 in the second quarter of the 1998 fiscal year compared to $1,046,000 in the second quarter of fiscal 1997. This increase was primarily attributable to the inclusion of general and administrative expenses for the Company's new memory module operations of $935,000 and 100% of the expenses associated with the antenna technology operations of $900,000 due to impairment concerns of Intercell Technologies Corporation to pay it's obligation to the Company. In addition, the Company incurred additional legal costs associated with the Company's intellectual property rights to the particle interconnect technology.
For more info on the 10Q, see the link below:
sec.yahoo.com
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