Probably having a hard time working out how they spent $933,000 on a Joint Venture that hadn't even started yet. While director fees have been reduced, legal fees and admin expenses have climbed.
$469,000 at the end of last quarter less $95,000 to Volkov, $37,000 to Konig and an estimated quarterly spend of $195,000 doesn't leave much in the kitty.
Ann: Quarterly Review and Company Update, page-11
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