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Friday, November 16, 2012 7:19:16 AM
NET INCOME
$135,166
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Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Management believes that there is sustainable cash flow potential for the near future in real estate and is actively pursuing the program. As of the balance sheet date, September 30, 2012, the Company has invested approximately $2,900,149 in surplus funds and is continuing the investing process.
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NINE MONTHS ENDED SEPTEMBER 30, 2012 COMPARED TO SEPTEMBER 30, 2011
REVENUE
Total revenue for the nine months ended September 30, 2012 decreased by $840,001 or 23.0% from $3,649,236 for the nine months ended September 30, 2011 to $2,809,235 for the same period in 2012. Internet sales decreased $667,864 or 23.3% from $2,859,825 for the nine months ended September 30, 2011 to $2,191,961 for the same period in 2012. Real estate sales decreased $172,137 or 21.8% from $789,411 for the nine months ended September 30, 2011 to $617,274 for the same period in 2012.
The decrease in Internet sales is attributed to the lack of acquisitions of Internet access and web hosting customers of ISPs. Although the Company continues to sign up new customers, competition from ubiquitous nationwide telecommunications and cable providers threatens significant and sustainable organic growth. To insure continued strength in revenues, the Company has acquired and plans to continue to acquire the assets of additional ISPs, folding them into its operations to provide future revenues. The new real estate division while sales are down is preparing properties for the market and is still providing a profitable revenue stream.
COST OF REVENUE
Total costs of revenue for the nine months ended September 30, 2012 decreased by $350,130 or 17.3% from $2,026,513 for the nine months ended September 30, 2011 to $1,676,383 for the same period in 2012. Cost of Internet revenue decreased $177,071 or 12.8% from $1,385,247 for the nine months ended September 30, 2011 to $1,208,176 for the same period in 2012 as a result of declining revenue. Cost of real estate revenue decreased $173,059 or 27.0% from $641,266 for the nine months ended September 30, 2011 to $468,207 for the same period in 2012. Cost of real estate revenue is a direct result of lower sales while the cost of revenue as a percentage of sales decreased 5.3% from 81.2% for the nine months ended September 30, 2011 to 75.9% for the same period in 2012.
http://secfilings.com/searchresultswide.aspx?link=1&filingid=8916845
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