PNV 3.41% $2.12 polynovo limited

Yes LL it appears a great deal of commentary has been on the net...

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    Yes LL it appears a great deal of commentary has been on the net loss of $1.2m on revenue in excess of $40m, but what investors fail to see is that some of the salary expenditure for recruiting and training for a year, for the marketing/sales personnel, in my eyes is not really operational expenditure but capital investment expenditure as it is not matched with operational income until those personnel actual produce in a years time. Of course the bean counters governed by the many accounting standards would not allow that years expenditure to be capitalized in the balance sheet as an investment (although I am of the opinion that operational staff are an asset!!). Imagine if it was capitalized for that year the effects it would have on reported profit. It could only happen is the formative years of the company as they look to secure market share, which some one did point out the current market share is miniscule compared to what is out there. Just thoughts of a retired bean counter!
 
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