PSTI had no revenues while R&D net of participation of the OCS (government re-imbursement) and other grants was $1.54M. This increase is attributed to the increase in stock-based compensation expenses, salaries and lab materials expenses due to the increase in the R&D activity. G&A expense was $1.15M which increased due to an increase in stock based compensation expenses. Financial income was $86K. As of Q1/11, total current assets were $45.6M and total current liabilities were $1.9M. PSTI finances operations from existing cash, funds from grants from the OCS.
- Cash and cash equivalents as of 3/31/11 was $44.86M.
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