1) Heddle says plant has been idle since 2013.
Post# of 43064
Posted On: 09/06/2015 1:23:05 PM
1) Heddle says plant has been idle since 2013.
2) Heddle says processors idle since 2013
3) Heddle says company completely out of money, and can't afford to fix processors or do anything else.
4) 10Q shows no employees on payroll.
5) 10Q shows Heddle spent $4.5 MILLION on SG&A in the first six months of 2014, and in the first six months of 2015.
6) Company has no sales of any kind.
7) Heddle sole decision maker.
Selling, General & Administrative Expense (SG&A) Definition: it is the sum of all direct and indirect selling expenses and all general and administrative expenses of a company.
9) DEFINITION of 'Administrative Expenses': The expenses that an organization incurs not directly tied to a specific function such as manufacturing/production or sales. These expenses are related to the organization as a whole as opposed to an individual department; also referred to as "administrative cost."
BREAKING DOWN 'Administrative Expenses'
Salaries of senior executives and costs of general services such as accounting are examples of administrative expenses.
Heddle loans the company just under $4.5M, and then Heddle spends $4.5M on SG&A rather than spend even a tiny fraction of that amount to fix the processors. Unable to run pilot tests to complete sales because processors remain broken.
A company that has no activity of any kind, no sales, everything idle for past two years, spends $4.5 MILLION on SG&A. Heddle is the single one making all decisions with no oversight by an independent board.
It doesn't take a rocket scientist to connect the dots.
2) Heddle says processors idle since 2013
3) Heddle says company completely out of money, and can't afford to fix processors or do anything else.
4) 10Q shows no employees on payroll.
5) 10Q shows Heddle spent $4.5 MILLION on SG&A in the first six months of 2014, and in the first six months of 2015.
6) Company has no sales of any kind.
7) Heddle sole decision maker.
Selling, General & Administrative Expense (SG&A) Definition: it is the sum of all direct and indirect selling expenses and all general and administrative expenses of a company. 9) DEFINITION of 'Administrative Expenses': The expenses that an organization incurs not directly tied to a specific function such as manufacturing/production or sales. These expenses are related to the organization as a whole as opposed to an individual department; also referred to as "administrative cost."
BREAKING DOWN 'Administrative Expenses'
Salaries of senior executives and costs of general services such as accounting are examples of administrative expenses.
Heddle loans the company just under $4.5M, and then Heddle spends $4.5M on SG&A rather than spend even a tiny fraction of that amount to fix the processors. Unable to run pilot tests to complete sales because processors remain broken.
A company that has no activity of any kind, no sales, everything idle for past two years, spends $4.5 MILLION on SG&A. Heddle is the single one making all decisions with no oversight by an independent board.
It doesn't take a rocket scientist to connect the dots.
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