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This excerpt taken from the SMTK 10-K filed Mar 26, 2008. Administration for the year ended December 31, 2007 as compared to 2006 Total administration expenses were $4,689,000 for the year ended December 31, 2007 as compared to $3,861,000 for the year ended December 31, 2006.
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The $828,000 increase for the year was due to increases in accounting fees of $94,000, professional and consulting services of $680,000, board costs of $100,000 and stock option expense of $525,000. These increases were partially offset by decreases in payroll and payroll related costs of $315,000 and legal expenses of $275,000. The increase in accounting fees of $94,000 and $400,000 of the increase in professional and consulting services were due to compliance with Section 404 of the Sarbanes-Oxley Act. The remaining $280,000 increase in professional and consulting services was primarily related to our NASDAQ listing, investor relations activity and other corporate development activity. |
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