I agree with your statement in principal and have been complaining about the same on this board for a while, specifically when they signed a new lease for more space. Why not stay in budget rather than operate like the government. My hope is that revenues will pour in enough to edge out the bad spending pattern of management.
I am being harsh but true. Company should have been profitable 4Q last year.
And if the record revenues continue, and their expenses remain fixed, they will be profitable at some point soon. Could be a $4 or $5 stock. This now appears to be a real company meeting a timely need.
Expenses never stay fixed. They are projected by Zack Analyst Report to be turning a profit in 2016 which their shareholders will never see any dividents until maybe late in the year of maybe a penny a share. The company currently has $11.5M in debt in promissory notes with only $75K in cash on hand. They're only surviving through inflow of cash from shareholders. It's a risk but if a big chunk of shareholders were to abandon the company, they would have to call bankruptcy. They are not a strong company that can withstand a bad year.