Staff costs are usually your biggest costs. Much of the research cost is being carried by the third-parties.
Some saving in salaries will come from the following staff no longer employed at Biosignal. Excluding bonuses: M Oredsson (Salary $267,466 FY07), R McDougall (Salary $119,900 FY07), M Ironside (Salary $165, 377 FY08)
On the negative side is the termination of our grant funding in June 08. Funding received was $801,644 FY07; $524,274 FY08. We don't get that money any more and it is going to be hard to cover. Apart from those grants and share issues, BOS has insignicant income.
The last share purchase plan was disasterous - raising only enough for one month's operations, or to Apr 09 on rice and lentils.
Will BOS fail? There are companies out there with years of no results and slim prospects (LKO, SRI), and punters keep on putting up more cash. This is largely in the hope of recovering funding already committed. BOS has better prospects than some other hopefuls. If the trials work, then no problem. If not, well BOS better start phoning the true believers.
BOS Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held
