Grant income was just under $.5 million, or about 3 times the grant income of 1Q13. CTSO also received about $460K in tax credits. At $.22 per share, the combined total of grants and tax credits avoided 4.6 million shares in dilution.
At $570K of product income, if Q2 grows at the same rate, i.e 80%, Q2 product income will be over $1 million. Q-over-Q growth can’t be 80% forever, but with new distributors coming online, this high rate is certainly possible.
R&D expenses in Q1 were $237K as compared to $704K in 1Q13.
1Q14 loss was $975K. This compares to $1,629 loss in 1Q13. At this pace, CTSO could be at breakeven in 2 more quarters.
"Q-over-Q growth can’t be 80% forever" - nothing is forever but for several years this is going to be the norm. If the product proves to really save lives then this will be the standard of care. As I see it, sales are not even starting to ramp up. The best is yet to come...