The 10-Q is out @ people do not seem to know about it. Despite decreased revenue, the net income is $119,615 (the sixth Q with positive net income), and the Company had cash at March 31, 2008 of $779,583. It's just a matter of time, IMO, b4 this will fly.
Mike
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From the 10-Q:
NET INCOME
For the three months ended March 31, 2008, net income was $119,615 as compared to a net income of $26,405 for the three months ended March 31, 2007. The change in the net income for the three months ended March 31, 2007 was primarily due to an increase in operating income partially off-set by a decrease in rental income from the sub-lease of office space. For the nine-month period ended March 31, 2008, the net income was $247,462 compared to a net loss of ($221,424) for the nine months ended March 31, 2007. The increase in net income for the nine months was primarily due to the elimination of costs previously associated with the Roaming Messenger operations and an increase in revenue from e-commerce products and services.
13
Liquidity and Capital Resources
The Company had cash at March 31, 2008 of $779,583 as compared to cash of $248,203 as of March 31, 2007. The Company had net working capital (i.e. the difference between current assets and current liabilities) of $400,205 at March 31, 2008 as compared to a net working capital deficit of ($482,178) at March 31, 2007.
Cash flow provided by operating activities was $563,241 for the nine months ended March 31, 2008 as compared to cash used for operating activities of ($129,630) during the nine months ended March 31, 2007.
