Ann: Appendix 4C - quarterly , page-4

2013 revenue of $11.8m with COGS of $400k

but they made a loss on consulting fees, employment fees, travel fees, IT fees, occupancy fees etc etc

Chairman related companies pocketed $3.5m

same story in 2012

$9.6m revenue on $400k COGS but after all the associated fees they just broke even.

Chairman related companies pocketed $2.8m

Chairman owns 70% of stock.


doesn't seem like much money gets filtered back into equity value.

and who's going to tell him to do otherwise ?