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