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New words:
April, audit, director, gain, insurance, paid, professional, quired, sale
Financial report summary
?Management Discussion
- General and administrative expense increased from $52,000 in the three months ended March 31, 2023, to $64,000 in the three months ended March 31, 2024, principally because of increased director fees, insurance expense, accrued audit expense, and professional fees. General and administrative expense decreased from $165,000 in the six months ended March 31, 2023, to $114,000 in the six months ended March 31, 2024, principally because, during the quarter ended December 31, 2022, the Company recognized bonus expense and related payroll tax liability of $68,000 pursuant to the president’s employment agreement. Interest income increased from $25,000 in the three months ended March 31, 2023, to $29,000 in the three months ended March 31, 2024, and from $44,000 in the six months ended March 31, 2023, to $59,000 in the six months ended March 31, 2024, because of higher realized interest rates.