bbillybbass did you see the financials of FLCR it looks bad, do you see a good picture here?
RESULTS OF OPERATIONS FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2004 AND 2003
Revenues during the three months ended March 31, 2004 were $2,881 with cost ofsales of $506 yielding gross profit of $2,375. Operating expenses and generaland administrative costs during this period were $267,496 and interest expensewas $8,043 resulting in a net loss from continuing operations of $273,164.
For the three months ending March 31, 2003, FullCircle had revenues of $244,886and cost of sales of $84,593 resulting in gross profit of $160,293. However,operating expenses and general and administrative costs for the same period were$432,789 resulting in an operating loss of $272,496. Interest expense duringthis period was $20,563. As a result, FullCircle realized a net loss fromcontinuing operations of $293,059 for the three months ended March 31, 2003.
Revenues declined significantly during the first quarter of 2004 compared to thefirst quarter of 2003. This decrease is due to the fact that on July 29, 2003,the Company entered into a sales agreement for its wholly owned subsidiary,Paradigm Solutions Group, L.L.C. (Paradigm). During the first quarter, 2003 theCompany had generated significant sales through its Paradigm subsidiary, whichhad an existing client base of employers utilizing its health reimbursementmodel.
