Lets look at the excess expenditures of this firm

1.) Architect - $400,000 - related party transaction - Why ?

2.) Manhattan Palace - 99,000 square feet - approx $90.00 per square foot - 15 Year Lease

Now the entire space is up for Sub Let - only one year into the lease - Great Planning !!!

3.) Stock options and Compensation increases for Management !! Well earned - the principals and institutional investors need to have thier heads examined and quit drining the KoolAid

The list goes on and on !!!!

By the way does anyone know how many NFP firms have bought their way out of the deal in order to provide this cash poor company with some operating cash flow ???

Robing Peter to pay Paul - Interesting Business Plan