Manufactured Housing Properties Inc. (MHPC)

[10 bagger]

STTH.. $0.18

Surprising earnings and true Cash Flow .. I have updated the I-box to reflect latest release..

STRATUM HOLDINGS, INC.
Consolidated Statements of Operations
(Unaudited)


Three Months Ended June 30,
2011 2010
Revenues:
Oil and gas sales $ 828,703 $ 778,045
Other - 49
Total revenues 828,703 778,094

Operating expenses:
Lease operating expense 426,061 353,385
Depreciation, depletion & amortization 121,522 241,564
Workover expense 67,189 16,674
Selling, general and administrative 247,117 274,055
Total operating expenses 861,889 885,678

Operating loss (33,186 ) (107,584 )

Other income (expense):
Interest expense (63,130 ) (111,490 )
Gain on debt extinguishment - -
Gain on oil and gas derivatives 59,271 60,910

Loss before income taxes (37,045 ) (158,164 )
Benefit for income taxes 11,700 53,800
Net loss from continuing operations (25,345 ) (104,364 )
Discontinued operations, net of tax 2,866,185 67,490
Net income (loss) $ 2,840,840 $ (36,874 )

Net income (loss) per share, basic and diluted
Net loss from continuing operations $ (0.01 ) $ (0.04 )
Discontinued operations, net of tax 1.08 0.03
Net income (loss) $ 1.07 $ (0.01 )

Weighted average shares outstanding, basic and diluted 2,655,738 2,655,738


See accompanying notes to unaudited consolidated financial statements.