Management has repeatedly stated that one key to future profitability is the fact that they
will be able to support greatly increased sales without increasing staffing levels too much.
"Salary and wage expense" for Q3 was $3,869,945, up fractionally ($2,272,535, or 142%) from the Q2 figure of $1,597,410.
The Q3 Form 10-Q contained the following rather hilariously bland comment:
"Another area of increase is salaries and benefit expenses of $2,615,000. Our 51% increase in sales necessitated increases in staffing in sales, finance and operations to help support the Company's growth."
That is really funny, that they portray an increase of 142% as "up fractionally". LOL
They are trying to hide the HUGE increase in self-serving salaries and bonuses.
It is obvious that there are no cost controls.
A 50% haircut is coming, down to $5, or less.