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Ghart

10/01/14 2:55 PM

#6850 RE: Homebrew #6848

Those loses are shrinking rapidly and soon to be profitable.

"Our second quarter and six months results for the period ended June 30, 2014 reflected the decisive actions that we took early in 2014 to reduce our operating expenses. Overall in the six month period we achieved a reduction of 1,321,000 in operating expenses in the first half of 2014 compared to the first half of 2013. This reduction is the equivalent of 2.6 million reduction on an annualized basis and that compares to an overall EBITDA burn rate for 2.6 million for all of calendar 2013. We continue to make good progress on executing our restructuring plan, reaching positive cash flow from operations and aggressively focused on driving market share, increases for our products and services and associated revenue growth."