"Human Resources & Expenditure Review
The Company engaged TBH Consulting in June to complete a Human Resources review, with a focus on improving efficiencies in Engineering and Product Delivery. The criteria were established and individual meetings were held with Xped employees and the HR consultant.
Subsequent meetings with management and members of the board were completed. The results of this review identified significant opportunity to improve efficiencies and shorten delivery times for material projects and near-term revenue opportunities that are significantly important to the short-term performance of the company."
Sorry. IMO. You are very wrong.
Read the passage carefully - the review results and the main reasons for the review.
There are "material projects" and "near-term revenue opportunities" which are "significantly important to the short-term performance" of the Company. Right now, Xped is using external outsource services for engineering and delivery services hence, why administration expenses are high.
Ann: Company Update, page-34
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