I agree Chimi - I think there is a piece of string lying about...

I agree Chimi - I think there is a piece of string lying about somewhere which might give an approximation of the R&D spend. As Vestro says a lot was spent in the early stages before the company became ANO and since then from what I can understand there has been a considerable amount of R&D conducted in house by parties closely related to the hierachy and employed by ANO - much of that has probably just been paid in wages and not accounted for under R&D. I think MartyFH needs to look at how many new products are emanating from the business over what has been a relatively short period of time from an R&D point of view. Its all included in what IMO are very low overheads and good money management. You are trying to dig too deep Marty these guys work with their heart on their sleeve.