Replies to post #37 on TagLikeMe Corp. (fka TAGG)

[OilStockReport]

L2 looks very thin, could be nice upside if their projects materialize:

Six Month Period Ended June 30, 2010 Compared to Six Month Period Ended June 30, 2009

Our net loss for the six month period ended June 30, 2010 was ($489,258) compared to a net loss of ($265,119) during the six month period ended June 30, 2009 (an increase of $224,139). During the six month periods ended June 30, 2010 and 2009, we did not generate any revenue.

During the six month period ended June 30, 2010, we incurred general and administrative expenses of $487,677 compared to $250,516 incurred during the six month period ended June 30, 2009 (an increase of $237,161). These general and administrative expenses incurred during the six month period ended June 30, 2010 consisted of: (i) investor relations of $15,000 (2009: $-0-); (ii) consulting fees of $-0- (2009: $15,000); (iii) impairment of oil and gas properties of $236,444 (2009: $-0-); (iv) office and general of $80,785 (2009: $66,332); (v) professional fees of $93,448 (2009: $58,584); and (vi) management fees – related party of $62,000 (2009: $110,600).

During the six month period ended June 30, 2009, we did not record any impairment of oil and gas properties. Thus, general and administrative expenses incurred during the six month period ended June 30, 2010 compared to the six month period ended June 30, 2009 increased primarily due to the increase in impairment of oil and gas properties of $236,444, management fees – related party of ($48,600), office and general of $14,452 and professional fees of $34,864 relating to increased scope of operations. General and administrative expenses were increased further due to the increase in investor relations of $15,000. Reductions in expenses were realized in consulting fees. General and administrative expenses generally include corporate overhead, financial and administrative contracted services, marketing, and consulting costs.

Of the $487,677 incurred as general and administrative expenses during the six month period ended June 30, 2010, we incurred management fees of $62,000. As of June 30, 2010, the total amount due and owing in accrued and unpaid management fees and expenses was $51,502.

Interest expense incurred during the six month period ended June 30, 2010 was $1,581 (2009: $14,603). Our net loss during the six month period ended June 30, 2010 was ($489,258) or ($0.01) per share compared to a net loss of ($265,119) or ($0.01) per share during the six month period ended June 30, 2009. The weighted average number of shares outstanding was 34,434,972 for the six month period ended June 30, 2010 compared to 30,432,392 for the six month period ended June 30, 2009.