FMNL Revenues and Share Structure Info from Annual Report! The Company recorded revenues from membership dues and travel club membership sold of $ 3,110,511 for the year ended September 30, 2011 compared to $3,821,772 for the year ended September 30, 2010 and $3,294,162 for the year ended September 30, 2009. Subsequent to fiscal year end, the Company sold the marketing sales and service operations as the membership faced natural attrition.
For the year ended September 30, 2011 a total of Nil travel club memberships were sold or acquired, (nil for year ended September 30, 2010, 123 for year ended September 30, 2009). For the year ended September 30, 2011 the mean average non-refundable travel club membership purchase price remained at $Nil ($Nil for year ended September 30, 2010, and $Nil for year ended September 30, 2009).
A net loss of $946,072 was recorded for the year ended September 30, 2011, as compared to the net loss of $3,464,951 for the year ended September 30, 2010, and a net loss of $5,344,283 for year ended September 30, 2009. The net loss of $946,072 was due largely as result of an impairment on the motor vessel recognized as at years’ end of $500,000. Basic loss-per-share was $0.03 for the year ended September 30, 2011 compared to a loss per share of $0. 12 for the year ended September 30, 2010; loss per share of $0.19 – for the year ended September 30, 2009.
There were 32,515,984 shares issued as of September 30, 2011 and 29,140,984 issued as of September 30, 2010 and 28,856,984 at September 30, 2009. In April 2007 the company completed a 3-for-1 forward split increasing the outstanding shares by 9,240,578 to 13,860,867. On June 29, 2007, the Company completed a private placement and issued 11,000,000 common shares of the Company at US $0.50 per share for gross proceeds of $5,773,918 (US $5,500,000). On July 4, 2007, the Company completed a private placement and issued 3,500,000 common shares at US $1.00 per share for gross proceeds of $3,650,396 (US $3,500,000) increasing the issued and outstanding shares to 28,409,611 at September 30, 2007. On July 13, 2011, the Company completed a private placement issuing 2,000,000 common shares at $0.05 per share for gross proceeds of $100,000. Basic earnings-per-share is calculated using the weighted average number of common shares outstanding during the year.
