Joe this is from todays pr on yahoo headlines DRGV...........
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Financial Highlights
For the third quarter of 2014, total revenues were $5.0 million compared to revenues of $4.8 million recorded in the third quarter of 2013. Gross margins improved to 5% in the second quarter of 2014 compared to gross margins of 4% in the third quarter of 2013. Income from continuing operations in the quarter was $160,874 compared to income from continuing operations of $85,763 recorded in the third quarter of 2013. The increase in income was mainly attributable to an increase of general sales revenue and stable cost of sales. Net income attributable to Dragon Capital Group in the third quarter of 2014 was $329,700 inclusive of a ($3,356) loss from discontinued operations compared to net income attributable to Dragon Capital Group of $38,942 inclusive of a ($9,159) loss from discontinued operations. In the third quarter of 2014 the Company's operations resulted in a income of $0.00 per basic and diluted share on 896.4 million weighted average shares outstanding compared to earnings per basic and diluted share of $0.00 on 492.7 million weighted average shares recorded in the third quarter of 2013.
For the first nine months of 2014 total revenues were $14.3 million compared to $14.1 million in the first nine months of 2013. For the first nine months of 2014 the Company's operations resulted in a net income attributable to Dragon Capital Group of $210,537, inclusive of a ($117,904) loss from discontinued operations. This compared to net income of $158,378 inclusive of a ($15,155) loss from discontinued operations recorded in the first nine months of 2013. Earnings per basic and diluted share for the first nine months rounded to $0.00 in both periods on 896.4 million and 492.7 weighted average shares respectively.
Balance Sheet
On September 30, 2014, total assets were $10.2 million and shareholder equity was $8.6 million with 896.4 million common shares outstanding. On December 31, 2013, total assets were $9.8 million and shareholder equity was $7.5 million with 492.7 million common shares outstanding. Working capital was $8.5 million on September 30, 2014 compared to $8.1 million at December 31, 2013.
Commenting on our results for the third quarter of 2014, Mr. Lawrence Wang, Chairman and CEO of Dragon Capital Group, "We are seeing a slight improvement in our revenue in the last quarter as we continue to work to build sales of higher margin utility monitoring automation software and services at our Shanghai Yazheng subsidiary, and mobile software applications from our Shanghai Zhiye subsidiary. This effort has resulted in a small increase in our gross margins in the quarter as we maintain our cost of sales which we intend to build upon in future periods. We believe we are on the right track to increase sales in those higher margin businesses to enable our Company to improve performance in the coming quarters and help us achieve sustained profitability in the quarters and years to come."
