PTSC
Selling, general and administrative expenses decreased from approximately $3,940,000 for the fiscal year ended May 31, 2009 to approximately $3,816,000 for the fiscal year May 31, 2010. The decrease consisted primarily of approximately $200,000 in accounting and auditing expenses due to one-time fiscal 2009 expenses related to the PDSG acquisition and the elimination of audit services for Holocom in fiscal 2010, approximately $156,000 in public and investor relations expenses due to fiscal 2010 cost-cutting measures, approximately $102,000 in salaries and related expenses due to fiscal 2010 restructuring and approximately $59,000 in travel and related expenses.
OK…forget the bright side LOL
These decreases were offset by increases in legal expenses of approximately $342,000 due to fiscal 2010 litigation with the former officers of Crossflo, litigation with Deutsche Bank and litigation with TPL, and increases in consulting expenses of approximately $338,000 related to planning and partnering strategies for PDSG. For the fiscal years ended May 31, 2009 and 2010, approximately $364,000 and $153,000, respectively, of share-based compensation was recorded in connection with vesting of employee stock options.
