Good to see some green on the boards. I like Turrs take that up is happier than down.
I need some detective work on the part of board members to solve a mystery!
As of the MD&A of November 28th the company stated:
"Depreciation increased by $310,462 over Q2 2016 from $239,958 to $550,420 due primarily to the property and equipment acquired through the acquisition of DenseLight and BB Photonics. The Company also acquired additional property and equipment during Q3 2016."
I can't find a PP&E line in the financials (Property, Plant & Equipment), but, only 2 of the three suffer depreciation, property (plant) and equipment. Land is considered to appreciate over time, not depreciate.
Also from the MD&A:
"In addition, the Company experienced some issues with importing and exporting its wafers, which resulted in a slower development process in Q3. These issues have subsequently been resolved but required the Company to expend resources on professional services."
Generally professional services means lawyers and accountants.
And then there was that whole rush to raise money....
Sooo, the additional property doesn't seem to be land, because it's in the depreciation catagory with equipment, but, whatever the expenditure for this "property" was, it helped to resolve, along with a lot of lawyers fees, the wafer bottleneck.
The gumshoe in me says they bought some sort of facility (plant) but the mystery remains...... :-)
