it probably IS better than MOST of the trash...
my only point is that in the bigger picture the company doesnt have much cash: LOOK - CURRENT LIABILITIES EXCEED CURRENT ASSETS.
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 402,290
Accounts receivable (net of
allowance for doubtful accounts
of $75,000) 158,930
Tax deferred asset 11,600
-------------
Total Current Assets 572,820
-------------
EQUIPMENT, FURNITURE AND FIXTURES:
Computer and office equipment 75,713
Furniture and fixtures 204,858
Leasehold improvements 12,000
-------------
292,571
Less- Accumulated depreciation 268,017
-------------
Equipment, Furniture, and Fixtures, Net 24,554
-------------
OTHER ASSETS 13,500
-------------
Total assets $ 610,874
=============
LIABILITIES AND STOCKHOLDERS' DEFICIENCY
CURRENT LIABILITIES:
Accounts payable and accrued expenses $ 401,124
Taxes payable 25,100
Deferred revenue 399,800
Notes payable - current 129,691
-------------
Total Current Liabilities 955,715
.
.
.
AND the company is losing a customer that accounts for approx 20% of existing revenues which are essentially FLAT:
THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30,
2004 2003 2004 2003
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
NET SALES $389,620 $366,463 $1,061,572 $1,020,599
------------ ------------ ------------ ------------
so --- you better hope that some of the products they are releasing brings in the bucks --- otherwise the next couple of Q s are likely to look dismal.
Lazarus
