1. O/S: 145,699,429 (diluted) shares as of March 14, 2005
2. Results of Operations
a) Q revenue: 2.028MM now, compared to $547.9K for the same Q last year.
b) 9 months:
Total revenues increased to $6,355,493 in the nine months ended January 31, 2005 from $ 3,181,248 in the quarter ended January 31, 2004. Sales are increasing due Modular becoming accepted by the school districts as a reliable manufacturer of modular, an experienced sales staff is now in place and a new product line is available through the purchase of intellectual properties from Aurora.
Cost of revenues was $4,057,749 and $2,047,348, respectively for the quarters ended January 31, 2005 and 2004. Gross profit was $2,297,744 and $1,133,900, respectively for the quarters ended January 31, 2005 and 2004. This is due to Global Modular becoming a reliable source of modular buildings with wide selection of attractive designs.
Total operating expenses increased to $1,940,802 in the quarter ended January 31, 2005 from $1,110,027 in the quarter ended January 31, 2004. This is mainly attributable to increases in selling, general, and administrative costs in connection with the increased sales and operations of Global Modular and MBS Constructions.
3. Assets: $6,068.126 now, compared to $4,519,207 on March 2004
4. Total - notes payable - long term: $ 643,459
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