Investor Presentaiton
Sales, General and Administrative Expenses
All amounts in CAD $'000, except percentages Q2 2023
Q2 2022
% A
2023 YTD
2022 YTD
% A
Sales Expenses
Sales and marketing expenses
Fees paid to sales agents
Product delivery freight expenses
Total Sales expenses
(1,030)
(711)
45%
(2,100)
(1,533)
37%
(94)
(359)
(74%)
(231)
(495)
(53%)
(3,723)
(7,040)
(47%)
(7,590)
(10,013)
(24%)
(1,124)
(1,070)
5%
(2,331)
(2,028)
15%
General expenses
General administrative expenses
(888)
(389)
128%
(1,809)
(799)
126%
Legal, professional, consultancy and audit costs
(290)
(77)
277%
(607)
(488)
24%
IT/Software expenses
(231)
(185)
25%
(343)
(390)
(12%)
Taxes and licenses fees
(33)
(4)
811%
(56)
(19)
190%
Total General expenses
(1,442)
(655)
120%
(2,814)
(1,696)
66%
Sales and marketing expenses increased by 45% in Q2 2023, mainly due to the implementation of a field sales team, resulting in expenses related to salaries car rentals and travel.
G&A expenses increased by 128% primarily be attributed to severance costs, with an expected cumulative annual cost reduction of $588,000. In Q2 2023, the Company set aside a
bad debt provision of $25,000, within the total revenue of $75,000,000 generated over the preceding 12 months.
Legal, professional, consultancy and audit costs increased by 278%, mainly due to higher expenditures linked to the Company's re-domiciliation to Singapore.
TSX: NPK OTCMKTS: VNPKF
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