Where exactly do you people come up with these numbers??
I am totally 100% LOST!! I read over th 10Q this morning and this is what I see..what am I missing here?? PLEASE HELP EXPLAIN THIS TO ME!!!
Taken form the 10Q. If you haven't or don't typically read filings, I strongly suggest you do if you plan on investing in a company instead of trading it!
For the quarter ended September 30, 2007, we had revenue of $54,843 compared
with revenue of $110,806 for the quarter ended September 30, 2006 for a decrease
of 51%. Revenue is generated from software license and system installation,
maintenance support and service revenues. Revenues for the three months ended
September 30, 2007 and September 30, 2006 are broken down as follows:
Gross Profits
We generated $47,637 in gross profits from sales for the quarter ended September 30, 2007, which was a decrease of $37,254 from the quarter ended September 30, 2006, when we generated $84,891 in gross profits. Our gross profit margin percentage increased by 10.05% in the quarter ended September 30, 2007 to 86.66%. The increase in gross profit is primarily attributable to the renewal of monthly recurring maintenance revenue due to the expiration and renewal of service and support contracts during the period September 30, 2006 to September 30, 2007, as well as increased sales in the new WebDA product.
Our interest and penalty expense increased from $232,326 in the quarter ended September 30, 2006 to $241,887 in the quarter ended September 30, 2007.This increase of $9,561 is primarily due to interest expense attributed to the Convertible Notes. Liquidated damages associated with the Convertible Notes increased from $351,718 in the quarter ended September 30, 2006 to $589,147 in the quarter ended September 30, 2007. The $273,429 increase is due to an approximate $2.9 million increase in Convertible Notes issued and subject to liquidated damages during the period September 30, 2006 through September 30, 2007.
-13-
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During the quarter ended June 30, 2007, the Company contracted with two independent firms for financial consulting services which accounted for approximately $38,000 of the Selling, General and Administration Expenses for the quarter. Both of these firms have advised the Company regarding investment relations and other management and marketing techniques ostensibly to increase business revenues.
Operating Loss
The Company's operating losses increased by $6,438 in comparing the quarter ended September 30, 2007 to the quarter ended September 30, 2006, which were $431,898 and $425,460, respectively.
We had a net loss from operations of $677,606 for the quarter ended September 30, 2007
As of September 30, 2007, the Company had the following financing arrangements:
Debt liability summary table:
Current Debt liabilities
Interest payable, stockholders $ 1,793,871
Notes payable, stockholder, current
position 875,000
Callable secured convertible notes,
current portion 4,014,481
Total debt current liabilities $ 6,683,352
Long-term debt liabilities
Notes payable, stockholders,
convertible debt, net of deferred
interest of $601,144 $ 213,578
Callable secured convertible notes 3,946,954
Total long-term debt liabilities $ 4,160,532
soooooooooo Is This somethng you want to invest in?
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