Ann: Becoming a substantial holder, page-219

Norwood are spending $3.5m a year. They have stated they are only concentrating on WV now and this quarter they have projected $350k in product and R&D costs and $500k on directors wages and sales staff.

There is zero chance that if this app was owned by a larger fish they would be spending that amount of money.

I mean at $50 an hour for programmers wages $350k is 7000 hours a quarter (though there would be other costs like rent and power etc.). Ten programmers working full time is 5000 hours a quarter. You have to ask what are they doing?

And the directors and sales staff? Let's up the rate to $100/hr or 5000 hours a quarter. Are there eight guys working full time for 4000 hours? What are they doing day after day? It's an app that records voice messages and does interesting things with it. Does it need a staff of 18+? It's already been created!!