$MMAT Latest 10-Q showed in increased in Total Operating expenses per quarter from $5m in Q1-Q2 to $12m in Q3. Quarterly gross profit fell from an ave. of $823,513 in Q1-Q2 to $427,509 in Q3. So their quarterly operating costs rate went from about $4m (0.8m-5m) to almost $12m. There are other cost related to the loss of government subsidies, warrants etc but this is the main driver of burn: they don't have any revenues aside from the Nanotech contracts, for which they paid $72 million. Q3's increase in recurring burn came from 3 main sources: - $3m per q. in increased payments to TRCH / Oilco ( "consulting fees" for the "management and maintenance of the Oil and Gas leases" - $1.5m per q. increase in management payroll - $1m per q, increase in rent + NASDAQ-related insurance
5
1
1 Like