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REVENUES
Net revenues totaled $691,000 and $142,000, respectively, for the year ended December 31, 2006 and December 31, 2005. Increased revenues of $548,000 (387%) were attributable to new MobileVoice customers. The Company also had a one time contract settlement in cash for early termination due to a One Voice customer being purchased by another telecommunication company.
GENERAL AND ADMINISTRATIVE EXPENSE
Operating expenses totaled $3,516,000 for the year ended December 31, 2006 from $3,433,000 for the same period in 2005. The majority of our cash related operating expenses consist of compensation related expenses and regular monthly overhead items including: rents, utilities, various insurance policies, legal and audit fees. The increase of $83,000 (2%) over year 2005 is allocated between the above mentioned items. The increase for the current year was primarily due to the increase in business activities related to supporting the development of our company.
