Fiscal Years Ended March 31, 2010 and March 31, 2009
Net Revenues
We recorded net revenues of $111,572 for the fiscal year ended March 31, 2010 compared to $196,316 in the fiscal year ended March 31, 2009, a decrease of $84,744, or forty three percent (43%). The revenue level declined due to reduced cash receipts from sell through in the Christian bookstore marketplace as we focused our sales efforts largely back into large retail stores and the church marketplace. During the fiscal year ended March 31, 2010, we sold through 4,694 units at our large retail store customers.
Selling, general and administrative expenses were $1,069,386 for the fiscal year ended March 31, 2010,
Advertising and marketing expenses were $946,772 for the fiscal year ended March 31, 2010
Legal Fees were $978,149 for the fiscal year ended March 31, 2010
Wages and salaries were $4,110,541 for the fiscal year ended March 31, 2010
Product development expenses were $140,307 for the fiscal year ended March 31, 2010
We recorded other expense of $637,715 in the fiscal year ended March 31, 2010
As a result of the above factors, we reported a net loss of $7,837,000 for the fiscal year ended March 31, 2010
Yeah, it's true alright. 100% fact. undisputed, signed off by Troy himself.