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Gold/Mining/Energy : Gensci Regeneration Sciences Inc. (GNS)
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To: Andras who wrote (162)5/14/1999 12:07:00 AM
From: Edward W. Richmond  Read Replies (1) of 225
 
Andras, the financials for fiscal 1998 are now available on the GenSci webpage gensci.bc.ca. It is no surprise that marketing, general and administrative expenses are $13.5M with total revenue of $16.3M. Certainly seems out of control to me.
The explanation is the cost of marketing and selling the product. I would assume that the explanation I received about the training of additional sales personnel is a part of these costs. Also included were the expansion of the corporate team and the expenses of moving of the head office to Toronto.
It would appear to me that the costs of training and moving the office should not be significant in Q1. However, I predict that these expenses will again be extremely high and the explanation will parallel what is found in the Annual Report.
Sure would love to be wrong. We'll know soon.
Regards, Ed
Unless we see some insider buying tomorrow, I expect to see the share price drop, probably to the $2.00 level. Again, I hope I am wrong.
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