Q2 2014 Financial Summary
In Q2 2014, the company generated revenues of $153 thousand as it continued to focus on the development of prototype and commercial parts for its customers and partnering with licensees on the development of the Company’s technology and production processes.
Selling, marketing, general and administrative expense was $2.0 million compared to $1.2 million in Q2 2013. The increase was primarily due to additional legal fees incurred during Q2 2014 related to the arbitration process and final settlement with our former contract manufacturer, Visser Precision Cast.
Research and development expense was $392,000 compared to $224,000 in Q2 2013.
Cash totaled $13.9 million at June 30, 2014, as compared to $2.1 million at December 31, 2013.
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