The 10Q doesn't give much insight into progress of the business plan although "operational expenses" do not appear sustainable unless they represent non recurring items related to the initial implementation of the business plan. If such expenses are ongoing, I suspect we will see massive dilution, and unless there is something new and exciting to be announced, this does not look very promising to me.
RESULTS OF OPERATIONS
For the Three Months Ended December 31, 2010 Compared to the Three Months Ended December 31, 2009
During the three months ended December 31, 2010, we recognized $43,522 from our service office operations. During the six months ended December 31, 2010, we incurred cost of revenues of $15,446 resulting in a gross profit of $28,076. During the three months ended December 31, 2009, we did not recognize any revenue.
During the three months ended December 31, 2010, we incurred operational expenses of $168,675. During the three months ended December 31, 2009, we incurred $2,996 in operational expenses. The increase of $165,679, was a result of the increased operational activities due to the acquisition of our subsidiary Prestige.
During the three months ended December 31, 2010, we incurred a net loss of $140,600. During the three months ended December 31, 2009, we incurred a net loss of $2,996. The increase of $137,604 was a result of the increase in our operational activities, as discussed above.
For the Six Months Ended December 31, 2010 Compared to the Six Months Ended December 31, 2009
During the six months ended December 31, 2010, we recognized $75,767 from our service office operations. During the six months ended December 31, 2010, we incurred cost of revenues of $34,464 resulting in a gross profit of $41,303. During the six months ended December 31, 2009, we did not recognize any revenue.
During the six months ended December 31, 2010, we incurred operational expenses of $294,912. During the six months ended December 31, 2009, we incurred $2,996 in operational expenses. The increase of $291,916 was a result of the increased operational activities due to the acquisition of our subsidiary Prestige.
During the six months ended December 31, 2010, we incurred a net loss of $253,610. During the six months ended December 31, 2009, we incurred a net loss of $2,996. The increase of $250,614 was a result of the increase in our operational activities, as discussed above.
