You correctly picked up that they spent almost 5 times more on "travel, employee and fringe benefits" than they did on project costs.
What you failed to pick up is that they spent another $539,000 on "Consulting Fees" which is commonly a euphemism for director's fees.
Further to that, what is most disappointing, there appears to be plenty of talk about developing high-tech products both historically and now, but there expenditure on "Product Development" was only $7,600. I hate to sound negative, but surely I am not the only one who is noticing that the pecuniary benefits afforded to directors seem to outweigh the expenditure on product development and direct project costs?
LSH Price at posting:
4.8¢ Sentiment: None Disclosure: Held
