Carnegie Development Inc. (CDJM)

[Meyerlane621]

Total Assets $1,429,974.99 -- ($1,410,578.96 listed as SOFTWARE DEVELOPMENT)

Total Liabilities $10,064,634.43

From last quarterly report period ending Sep 30, 2011

RESEARCH AND DEVELOPMENT ACTIVITIES AND COSTS

All of our research and development activities are presently borne by the Company. As of September 30, 2011, we have spent $5,119,764 on research and development activities. Our business plan calls for us to expend a total of approximately $2,000,000 over the next twelve months for research and development. The company is currently negotiating a line of credit agreement with independent third parties to provide for the funds necessary to cover our anticipated research and development expenses, however, no assurance can be given that we will be successful in obtaining such line of credit, or that such will be on terms favorable to us.


Over $7,000,000 in research and develpoment and the and the software is listed as a 1.4 million dollar asset? The software that Paddington put together for a few thousand dollars.


http://www.otcmarkets.com/financialReportViewer?symbol=EDWY&id=63982

You need to add in the projected loss from LRI

Projected Revenue for Q2 2012

$150,000 Revenue
$275,000 Cost of Goods
$125,000 Loss

$113,500 Operating Expense

$238,500 Total Loss for the Quarter

http://www.learningresearchinc.com/investors.html