NPDT latest financial report:
Results of Operations for the six month period ended December 31, 2010 and 2009
Net Sales: Net sales for the six months ended December 31, 2010 and 2009 were $4,716 and $0, respectively. We had one sale in the current period as we are gearing up with our new business plan.
Cost of Sales: The Cost of Sales for the six month period ended December 31, 2010 and 2009 was $3,600 and $0.
Research & Development: R&D expense, which is now engineering expense for the six month period ended December 31, 2010, was $170,628 compared to $64,063 in the prior period.
General and Administrative expenses: General and Administrative expenses for the six month period ended December 31, 2010, were $1,065,035 compared to $7,645,620 in the same period in 2009. In order to restructure the new business it was imperative to increase consultants and professional fees in the prior year. The company hired high level, industry experts to operate the company; however officer salaries have been curtailed until the Company generates revenues and profits, which decreased officer salaries to $84,368 and office salaries to $157,136. Investor relations decreased to $37,547. Also, legal was a significant expense at $97,570 in the transformation and to prepare documentation to increase company capital. Travel was $42,651.
Liquidity and Capital Resources: We have experienced net losses of $1,249,452 and $7,709,683 for the six months ended December 31, 2010 and 2009, respectively. At December 31, 2010, we had $48,140 in cash. As a development stage company in our new field of endeavor, we currently do not have significant revenue producing operations, and we must sustain operations through equity and debt financing.
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