Genesis Electronics Group Inc (GEGI)

[jeffn]

wow!

Six months ended June 30, 2010 compared to six months ended June 30, 2009
Net sales for the six months ended June 30, 2010 were $16,017 as compared to net sales of $54,661 for the six months ended June 30, 2009, a decrease of $38,644 or approximately 71%. We are continuing to create customer awareness for our products. The decrease in revenues is primarily attributable to the non renewal of subscribers who had completed their annual hosting commitment during fiscal 2009. There can be no assurances that we will continue to recognize similar net revenue in future periods or that we will ever report profitable operations.

Total operating expenses for the six months ended June 30, 2010 were $188,593, an increase of $43,780, or approximately 30%, from total operating expenses for the six months ended June 30, 2009 of $144,813

from 10-Q

sales are down but expenses are up!