Electronic Control Security (EKCS)

[flemsnopes]

Revenues.

We had net revenues of $2,216,082 for the Fiscal 2012 Period, as compared to revenues of $3,958,941 for the Fiscal 2011 Period, representing a decrease of approximately 44%. Of the revenues reported in the Fiscal 2012 period, approximately 93% are attributable to domestic projects and 7% are attributable to international projects. The decrease in revenues in the Fiscal 2012 Period is attributable to the delays encountered by the Government related contract awards, Requests for Proposals (“RFP’s”) and task order awards. The Government has delayed the review and approval process which has had a further negative impact on sales for Fiscal 2012.