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Re: WardOffMonkey post# 60929

Wednesday, 05/16/2007 11:35:32 PM

Wednesday, May 16, 2007 11:35:32 PM

Post# of 92056
I think I can clear this up. The revenue for sales of the sniffers, if any, would have been reported in the 4th quarter, the balance of inventory for sniffers at 12/31/06 was already $62,740, same as 3/31/07 amount.

Don't have many posts left, so going to talk more about the financials here.

1. Accumulated Depreciation didn't increase this quarter. Still $97,538 this quarter, same as 12/31/06 amount. I don't think all of their equipment could be fully depreciated yet.

2. Capitilized CT Development only increased by $1,171 this quarter. So development costs for the CT may be in the Cost of Good Sold or S&GA costs yet. Means there is still room for improvement in one of those areas. Because I would expect that the GSM development would be more than $1,171 during the quarter.

3. $500,000 Investment in EVSI was removed from Other Assets during the quarter. Shares of EVSY changed hands here.

4. Accrued Payroll Taxes of $236,731 still haven't changed since 9/30/2006. Don't understand this one, don't see how this is possible. And Payroll Tax Liability didn't change from the 12/31/06 amount of $199,340

5. Due to EVSI current liability of $20,000 was eliminated, and Due to EVSI long term liability of $150,000. As well as the $490,000 Payable to Big Appple. Of course shares of EVSY changed hands here to eliminate.


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