nice work there...I will read it again to make sure I captured everything...without duplicating your effort....your numbers are off. First, forget about any debt forgiveness because it skews everything. You are correct about the company loosing nearly $1M from operations each QTR. Note I put in italics your number of $2.8M profit....that profit came from non-reoccurring debt forgiveness; not from operations and as you said the debt forgiveness for the year was actually 7.8M which means as the year went on the profit margin was dropping dramatically, in other words if you take away the debt forgiveness the losses went from 11M to 4M or about 900,000/qtr. Don't get me wrong that is still good, but it will take some effort to overcome that...especially in this current market. I do think they will continue to make progress...I just don't look for them to turn a true profit the first half of this year...hope I'm wrong...did I missing something?
$3,800,000 ÷ 4 Qtrs = $950,000 Per Qtr for Expenses
This means that SFNN had $950,000 per quarter in Expenses which means that SFNN needs to make more than the $950,000 per quarter to be profitable per quarter. It appears that apparently such would be the case from reading within the 10K how they have generated Revenues from having $11 million in losses to $2.8 million in profits.
Don't buy or sell based on anything you see on this thread...especially anything posted by me....Do your own DD; make your own decisions....
