Point Group Holdings (fka PGHI)

[chambers52]

PGHI from www.nasdaq.com
Common stock, $0.001 par value, 500,000,000 shares
authorized, 317,071,449 shares issued and outstanding

In July 2003, the Company amended its Articles of Incorporation to increase the number of shares of common stock to 900,000,000 at par of $0.001.

(a) Revenues.

The Registrant reported $78,730 in gross income for the six months ended June 30, 2003, and $37,467 for the three-month period ended June 30, 2003. For the six months ended June 30, 2002, the Registrant generated revenues of $78,730, and for the three-month period then ended $37,467. This represents an approximate 100% increase for the six months period and an approximate 100% increase over the three-month period. The increased revenue was due to the consulting services provided to various businesses and the establishment of retail sales in the subsidiary Naturally Safe Technologies, Inc.
g) Net Profit.

The Registrant reported a net profit of $293,908 for the six months ended June 30, 2003. This is compared to a net loss of $34,213 for the same period ended June 30, 2002, which was due primarily to the forgiveness of debt by shareholders. Operations for the three months ended June 30, 2003 resulted in a net profit of $9,463 compared to a net loss of $25,536 for the same period in 2002. The profit for the three months ended June 30, 2003 is due to revenue of AmCorp Group, Inc., a wholly owned subsidiary and the ceasing of operations of Prima International, LLC by the parent company.
The Registrant currently has total current assets of $47,562 and total current liabilities of $1,269,867 resulting in net working capital deficit of $222,305. The Registrant will require significant additional working capital to continue as a going concern. Without additional working capital or a viable debt restructuring, the Registrant may find it difficult to continue in business.