Thursday, August 09, 2012 1:36:29 PM
10Q is OUT! Congrats C.C. and J.S. for a timely (very early) filing!
A serious drop in SALES this Q - Economy or Company?
But a drop in expenses also, so the net loss is about the same.
Other good news...
On February 29, 2012, the Company entered into a promissory note with Ellamate, Inc. of Courtland, NY by lending Ellamate, Inc. the sum of $50,000. Terms of the note are 12% interest and the note matures on August 28, 2012. In addition to the 12% interest, Ellamate has also agreed to remit 3% of their “residual” income as additional consideration. This note was repaid to the Company in full on July 9, 2012.
Bad news...
Still only 11,000 merchants!!!???
<No growth for 6 months???>
Some good news on the "no growth"...
Results of Operation for the Three Months Ended June 30, 2012 Compared to the Three Months Ended June 30, 2011 and the Six Months Ended June 30, 2012 Compared to the Six Months Ended June 30, 2011
We generate revenues from the sale of the Blue Bamboo wireless terminals, our recurring monthly data plans and sales of our RedFin Gateway transaction platform. Our revenue decreased approximately 30% and approximately 9%, respectively, in the three months and six months ended June 30, 2012 compared to the same periods in 2011. The Company believes that the recent reduction in revenue is temporary and that subsequent quarters in 2012 will result in sales levels and sales growth that will be in line with the previous upward trends
Go RedFin!!!
RFNN
A serious drop in SALES this Q - Economy or Company?
But a drop in expenses also, so the net loss is about the same.
Other good news...
On February 29, 2012, the Company entered into a promissory note with Ellamate, Inc. of Courtland, NY by lending Ellamate, Inc. the sum of $50,000. Terms of the note are 12% interest and the note matures on August 28, 2012. In addition to the 12% interest, Ellamate has also agreed to remit 3% of their “residual” income as additional consideration. This note was repaid to the Company in full on July 9, 2012.
Bad news...
Still only 11,000 merchants!!!???
<No growth for 6 months???>
Some good news on the "no growth"...
Results of Operation for the Three Months Ended June 30, 2012 Compared to the Three Months Ended June 30, 2011 and the Six Months Ended June 30, 2012 Compared to the Six Months Ended June 30, 2011
We generate revenues from the sale of the Blue Bamboo wireless terminals, our recurring monthly data plans and sales of our RedFin Gateway transaction platform. Our revenue decreased approximately 30% and approximately 9%, respectively, in the three months and six months ended June 30, 2012 compared to the same periods in 2011. The Company believes that the recent reduction in revenue is temporary and that subsequent quarters in 2012 will result in sales levels and sales growth that will be in line with the previous upward trends
Go RedFin!!!
RFNN
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