Can someone help me understand the play here? I'm going through the 10k and I don't see it.
Revenues
Total revenues for the year ended June 30, 2007 amounted to $12,079, compared to revenues of $9,622 for the year ended June 30, 2006.
Liquidity and Capital Resources
During the year ended June 30, 2007, the Company received proceeds of $152,000 through the sale of its common stock and $38,844 in loans from related parties. Of the amounts received in the year ended June 30, 2007, $137,300 was used in operations, $36,062 to repay loans to related parties, $26,583 to pay offering costs, and $2,471 to repay a bank overdraft. The balance of cash and cash equivalents as of June 30, 2007 was $1,140, which was an increase in cash of $1,045 for the fiscal year. This sounds like dilution. Has it ended?
FROM BALANCE SHEET
Total stockholders' (deficit) (752,215)
Am I missing something here?
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