have you looked at the 2013 annual report?. Interesting points - 1) page 35 - R&D note - it is normally expensed and only capitalised when certain criteria is met. Capitalised R&D is amortised over 18 years - refer page 38 (in my view too long but it has been determined at that and passed audit scrutiny). but when you look at page 46 (R&D note) the amount of R&D does not appear to have increased in the 2013 year. An amount of $752k approx. has been written off in the Profit & Loss (page 30) as "external R&D" (down from $905k). So what does that all mean - all R&D external based for 2013 and not much done within the company?. If so who are being paid the salaries and exactly what R&D is being done in-house?. Would like clarification or if I missed something please let me know. AND 2) pages 26 & 27 - Remuneration Report - nearly choked when read it all and in particular when I saw the comparatives. didn't realise "Food for thought" could do that to one :-) Happy reading!!! - www.acrux.com.au - go to investors area - "financial reports".
ACR Price at posting:
$2.57 Sentiment: None Disclosure: Held
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