Raj Sargule

Are IPOs Heating Up? A123 Files.

What's striking is the R&D expenses of $7 Million for three months ended Mar 08, compared to $13M for year 2007. At this rate, 2008 R&D amounts to $28M! They do mention in their S-1 that they anticipate increased R&D due to personnel expansion. But with $50M spent on R&D so far, one would expect some returns and/or same level of R&D spending if not more.