What caught the eye of the 10Q Detective, however, was the $114,673 in "All Other Compensation" paid to Ms. Danenberg, which included a personal expense allowance, clothing expenses budget, and miscellaneous personal services (manicures, pedicures, and facials?) of $12,000, $86,622, and $4,051, respectively.
Since the Board of Directors will not point it out, it falls to us to remind Ms. Danenberg that she does not work for an apparel retailer.
For the first-quarter ended March 31, Response Genetics generated revenue of $1.9 million in sales of its proprietary analytical pharmacogenomic cancer testing services of clinical trial specimens to the pharmaceutical industry, specifically to Glaxo SmithKline and Taiho Pharmaceutical—all companies where the attire is tailored more to white lab coats than to $1,950 Dolce & Gabbana Duchesse dresses.
As of March 31, 2008. Response Genetics had an accumulated deficit of $22,045,161.
Editor David J. Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.