Proceeds from borrowings: $147k
Finance costs: $30k
No wonder NOR prefers to tap SH's for cash.
I agree with @DoubleDown! NOR margins and COGS have always been, imo, interesting.
Non-discretionary items attributed to Sales & Marketing for example. In this report there is IT Infrastructure Costs of $232k when revenue is $271k and COGS of $162k.
The increase in IT Infrastructure Costs is almost equal to the increase in Revenue. However, the revenue incurs a big chunk of upfront payment. That is, services are yet to be rendered.
Red. Flag.
All imo.
NOR Price at posting:
0.3¢ Sentiment: None Disclosure: Held
