Id rather punt my tax money at these guys trying to achieve...

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brick6

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11/03/24

16:51

Post #: 72844037
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Originally posted by Shortblack: ↑

Just a reminder to those shareholders that seem to want to attack non holders for making comment on this company, over the last 3 years this company has received $686,504 in government grants - taxpayer money. There is a public interest issue here.

The companys governance statement states there are a total of 18 employees. 14 in Israel and 4 in Aust (including the 3 directors).

Note 2 "Loss from Operations" shows that the total payments to employees was $3,258,551. The 5 KMPs were paid a total of $759,183. Which means the 13 staff in Israel were paid a total of $2.5 mil which included $500k in share based payments.

The total wage cost is spread out in the P & L between Admin., Directors Fees and R & D Expense.

If someone is able to accurately reconcile the Note 2 figures with the P & L please enlighten me. But my rough calculations show that only $1.5 mil (or $2 mil if share based payments is excluded) of the total R & D expense was paid to people or entities outside the company, possibly EM ?

I'm not suggesting the R&D claims with the ATO are dodgy, I'm sure the ATO go through them thoroughly. However perhaps the very welll paid employees in Israel, (who are being funded by Australian investors and taxpayers) who have spent 10 years or more in developing a so far non-existent product, might like to chip in some money ?????

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Id rather punt my tax money at these guys trying to achieve something rather than the bulk of the current recipients stoned eating coco pops on the couch.

Just saying

AKP Price at posting: $6.20 Sentiment: Hold Disclosure: Held
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