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Re: BCInvestor post# 36073

Thursday, 07/16/2009 9:14:26 AM

Thursday, July 16, 2009 9:14:26 AM

Post# of 86719
Uhhh excuse me, but you're going to lie also? LIQR Group LOST $49,000 last quarter. They have filed $159K in profits for the first 9 months of 2009. Yeah! get excited right?

Just one problem. A BIG problem. They STOLE $194,000 of inventory from their suppliers and booked it as PROFIT.

NET....NET

Loss of ((((($35,000)))) for the last 9 months.

LIQUOR GROUP WHOLESALE, INC.

STATEMENTS OF OPERATIONS
FOR THE THREE AND NINE MONTHS ENDED MAY 31, 2009
AND MAY 31, 2008 (UNAUDITED)


For the Three Months Ended For the Nine Months Ended
May 31, May 31, May 31, May 31,
2009 2008 2009 2008
--------------------------- --------------------

SALES
Related party $ 89,014 $ 80,463 $ 288,087 $ 372,745
Other (net) 9,070 76,263 192,617 116,506
-------------- ------------ --------------- -------------
98,084 156,726 480,704 489,251

COST OF SALES (39,664) (117,596) (248,895) (379,637)
-------------- ------------ --------------- -------------

GROSS PROFIT 58,420 39,130 231,809 109,614
-------------- ------------ --------------- -------------

OTHER INCOME
Vendor contract terminations 92,152 - 188,917 -
Interest 6,039 - 6,039 -
-------------- ------------ --------------- -------------
98,191 - 194,956 -
-------------- ------------ --------------- -------------

OPERATING EXPENSES
Stock issued for compensation expense (see Note 7) 135,000 - 135,000 -
Professional, consulting, and
administrative costs, (which includes
$31,000 in stock issued for professional
and consulting fees for both three and
nine months ended May 31, 2009 (see Note 7)) 52,816 5,759 83,789 20,706
Insurance - 4,110 - 12,330
Interest expense 3,820 3,392 10,995 9,952
Rent - related party 3,000 3,500 11,391 9,500
Licenses and fees 100 60 1,344 9,494
Bank charges 1,231 2,412 2,514 6,248
Other 9,693 367 22,653 5,892
-------------- ------------ --------------- -------------

205,660 19,600 267,686 74,122
-------------- ------------ --------------- -------------

INCOME (LOSS) BEFORE PROVISION
FOR INCOME TAXES (49,049) 19,530 159,079 35,492

PROVISION FOR INCOME TAXES - - - -
-------------- ------------ --------------- -------------

NET INCOME (LOSS) $ (49,049) $ 19,530 $ 159,079 $ 35,49
----------------------------------------------------------

OTHER INCOME
Vendor contract terminations 92,152 - 188,917 -
Interest 6,039 - 6,039 -
-------------- ------------ --------------- -------------
98,191 - 194,956