The cleaned you out. If you told the truth of your buys, you have some 70,000 and under the water big time
Did you buy more now you see the earnings are dead and nothing new? it is down -6% so are you buying more? What happened to your GALT that you bought at $14 and now at $3.50? Are you still holding that also?
This is very thinly traded. Usually only 100,000-200,000 shares trading if that. Remember this had jumped from $6 to $10 on expectations of good result and then dropped back down to $5.50 in one day so wide fluctuations. It is pure gambling as no revenue to see for 5+ years.
God, why do you always do this to me. Why must be a loser like these guys????? Why?
How do you always choose the losers? How do you do it? And you bought another 5,000 and it went down again just a day later.
Recent Accounting Pronouncements
We have reviewed all recently issued standards and have determined that other than as disclosed in Note 2 to the consolidated financial statements included herein, such standards will not have a material impact on our consolidated financial statements or do not otherwise apply to our operations.
Future Accounting Pronouncements
Section 107 of the JOBS Act provides that an emerging growth company, such as our company, can take advantage of an extended transition period for complying with new or revised accounting standards. Thus, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. Although to date, we have not yet taken advantage of this delay, we have elected to avail ourselves of this extended transition period for adopting new or revised accounting standards in the future. Therefore, we will not be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies. As a result of this election, our financial statements may not be comparable to companies that comply with public company effective dates. In the future, we may elect to opt out of the extended period for adopting new or revised accounting standards. If we do so, we will be required to disclose such decision, which will be irrevocable.
Results of Operations
Year Ended December 31, 2014 Compared to Year Ended December 31, 2013
Net revenue remained the same at $4.3 million during 2014 and 2013. Net revenues
for 2014 and 2013 include net unfavorable changes in estimates of $380,000 and
$57,000, respectively, related to adjustments for revenues recognized in prior
years. Net revenue and tests billed during 2014 and 2013 were as follows:
Net Revenue (in 000s) Tests Billed
Increase (Decrease) Increase (Decrease)
2014 2013 $ % 2014 2013 # %
UAMS-sourced $ 3,618 $ 3,584 $ 34 0.9 % 3,673 3,435 238 6.9 %
Non UAMS-sourced 702 732 (30 ) (4.1 )% 523 383 140 36.6 %
Total $ 4,320 $ 4,316 $ 4 0.1 % 4,196 3,818 378 9.9 %
The number of tests we billed for UAMS-sourced and non-UAMS customers increased approximately 7% and 37%, respectively, in 2014 over 2013 due to an increase in business from each. Included in the increase in non-UAMS customer tests is a 50% increase in tests sourced from non-UAMS hospitals. Net revenue recognized during 2014 for UAMS-sourced and non-UAMS customers remained relatively flat as compared to the net revenue in 2013 primarily due to the net unfavorable changes in estimates recorded in 2014 related to revenue recorded in prior years of $214,000 for UAMS-sourced and $166,000 for non-UAMS customers.
Included in the above-noted net revenue during 2014 and 2013, respectively, we derived 7% and 13% from private insurance, including managed care organizations and other health care insurance providers, 16% and 14% from government payor programs, most of which was derived from Medicare, and 77% and 73% from direct-bill customers, including UAMS, hospitals and other laboratories.
Cost of Revenue
Cost of revenue was $3.2 million, or 75% of net revenues, during 2014, an increase of $465,000, or 17%, compared to $2.8 million, or 64% of net revenues, during 2013. The increase was primarily attributable to $257,000 in stock-based compensation expense and $176,000 in increased material and supply costs due to increases in costs from our suppliers and increases in the usage of certain materials to support the increase in tests performed.
Research and Development Expenses
Research and development expenses were $293,000 during 2014, an increase of $68,000, or 30%, when compared to $225,000 during 2013. The increase is due to $121,000 in stock-based compensation expense, offset by a decrease in research and development expenses due to the abandonment of certain research projects that were deemed to not be viable.
In the future, we expect research and development expenses to increase as we work to develop additional diagnostic tests and add indications to our MyPRS� test. We cannot estimate the amounts we will need to invest in order to achieve the new indications or new tests, nor do we know if we will be successful in these endeavors.
This is trouble.