It would be impossible for ALTIF to make significant progress with
their jig over the course of several years simply because they aren't
really trying. R&D expenditures are very very tiny for a development
stage company, as you can see from the table below, from the 10k.
The valuation of ALTIF is a fun thing to look at:
Development stage companies typically have a market cap in the range
of 1 to 40 times the cumulative R&D expenditures over the past 5
years. Message 8352050
For ALTIF, that ratio is probably in the range 100-200,
indicating that the stock is severely overvalued.
If you thought that their patent estate was worth a lot despite the
lack of R&D expenditures that have gone into producing them,
then you might ask whether the stock is reasonably valued. However,
the patents appear to offer little protection, because the filings
report that a competitor has sold multiple units of a centrifugal
jig, and they do not report that ALTIF is challenging
them on the basis of patent rights.
ALTAIR INTERNATIONAL INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND DEFICIT
(Expressed in United States Dollars)
Year Ended December 31,
--------------------------------------------
1998 1997 1996
------------- ------------- -------------
Operating Expenses
Testing, research and development $ 259,630 $ 78,034 $ 159,679
note that the amounts in the table above are in dollars, not thousands of dollars. |
