"Note that R&D credit is MUCH higher than expected.. $1.26m!"
Wow! That is great news. So maybe I have it all wrong. Maybe the NOR business model is to just spend on R&D and get rebates.
After all, they are not good at sales and marketing, based on the return from that expenditure coupled with negative margins. If they do zero sales, then cost of sales/gross margin will be zero and if they also cut sales & marketing to zero...
Did you go to INSEAD with PO by chance?
All imo.
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