Well said moefuzz, as a reminder if you are new to the forum welcome, please visit the ibox, lots of current dd there, and saves the ones that have been here from continuing to beat a dead horse.
Hi Moe, I agree your point but this is common for the daytraders or short term investors. If someone wants to stay for long then they generally do DD or search old posts or go to the facebook for ZVTK. I have been answering lot of new people who jumped in recently with the links and every thinng. That is the reason why I put everything in Face book and keep on telling new people to join in face book and look what is ZVTK.
Remember we also need new investors whether it is short or long term in order to continue the avg sales value (right now it is 80M on 10 days moving average). It is all right, just tell them to go facebook for ZVTK profile and then they can see all documents over there under link sections.. Photos and videos also attached ....
On May 18, 2007, we entered into a license and supply agreement with an owner of the Ionic Bulb, which agreement was replaced by an Exclusive License and Sales Agreement dated February 24, 2009 under which we currently retain the exclusive worldwide rights to manufacture, market, use, sell, distribute and advertise the Ionic Bulb. We intend to sell the Ionic Bulb through our wholly owned subsidiary Ionicbulb.com, Inc. We seek to penetrate the $40 billion dollar global lighting industry through sales of the Ionic Bulb. The Ionic Bulb combines the performance features of ionic air cleaning technology with those of a 10,000 hour reduced energy use compact fluorescent light bulb (CFL). The Ionic Bulb contains an air purifying microchip ion emitter that is powered by the bulb's own energy. The Ionic Bulb is designed for use in any U.S. home which we believe will not require any special modifications. When illuminated, the Ionic Bulb via silent emission of negative ions helps to eliminate smoke, dust, pollen, pet dander and odors from the air within a surrounding 100 square foot area. The Ionic Bulb is designed for consumer use. We believe the Ionic Bulb product to be a less expensive and space saving alternative to air purifiers.
Patents and Trademarks
On April 2, 2005, Mr. Ryu (and Mr. Chang Min Lee the co-inventor) filed US Patent Application No. 11/097,767 (Publication No. 20006/0078460) entitled “Anion General for Incorporation into Lighting Apparatuses and Other Appliances” with the US Patent and Trademark Office (“USPTO”). The initial application was rejected on various grounds. Mr. Ryu filed a response and amendment to the initial application with the USPTO on September 9, 2007. Mr. Ryu filed a continuation-in-part (CIP) application on August 7, 2008, serial no. 12/221,908, which claims the benefit of no. 11/097,767, now abandoned. The CIP application adds some new enhancements to the bulb design that further distinguish the invention over the prior art. As of the date of this Annual Report, the CIP is pending and has not yet been examined. We cannot offer any assurance that the application will ultimately be approved by the USPTO. In addition, there is an international patent application on file under the Patent Cooperation Treaty (PCT), No PCT/KR2005/002997 (Publication No. WO/2006/031036) entitled Negative Ion Emission Lamp. We intend to file additional applications, as appropriate to protect our rights in the Ionic Bulb.
A divisional application, serial no. 11/820,915, is pending. It is directed to an ionic air purifying device in an appliance such as a fan (rather than in a CFL light bulb). A response to an office action is due October 28, 2009 with one 3 month extension of time. No further extensions are available..
The initial application for trademark protection for the “Ionic Bulb” brand name was rejected. There is no assurance that trademark protection will ultimately be procured.
Notwithstanding, Mr. Ryu’s and our efforts to protect proprietary rights in the Ionic Bulb, existing trade secret, copyright, and trademark laws afford only limited protection. Further, the assignment of the US Patent Application by the co-inventor has not been perfected by filing with the USPTO. Until such time as this filing is perfected, it is possible that the co-inventor could license the Ionic Bulb to another party. Despite our efforts to protect our proprietary rights and other intellectual property, unauthorized parties may attempt to copy aspects of our products, obtain and use information that we regard as proprietary or misappropriate our copyrights, trademarks, trade dress, and similar proprietary rights. In addition, the laws of some foreign countries do not protect proprietary rights to as great an extent as do the laws of the United States. Our means of protecting our proprietary rights may not be adequate. In addition, our competitors might independently develop similar technology or duplicate our products or circumvent any patents or our other intellectual property rights.
Results of Operations
Revenue
Our sales were $272,926 for the year ended June 30, 2008, consisting of Ionic Bulb sales. Our sales were $873,826 for the year ended June 30, 2007 from sales of products under the Slim Coffee product line, which we generated primarily from customer responses to our advertisements and their placing orders with us through our www.slimcoffee.com website or calling one of our toll-free telephone numbers. We no longer sell or market Slim Coffee products and do not anticipate actively selling Slim Coffee products in the fiscal year ending June 30, 2008.
Gross Profit
Our gross profit was $74,349 for the year ended June 30, 2008 and our gross profit percentage was 27.2% for the year then ended. Our gross profit was $571,390 for the fiscal year ended June 30, 2007 and our gross profit percentage was 65.4% for the year then ended. Our gross profit percentage for the fiscal year ended June 30, 2008 decreased as a result of our entering into a new market which required additional costs prior to any sales being made in the period.
Operating expenses
Operating expenses for the fiscal year ended June 30, 2008 were $2,079,222. Operating expenses for the fiscal year ended June 30, 2007 were $1,424,984 and consisted primarily of $377,162 in media advertising, $246,821 in sales order fulfillment and warehousing costs, $274,852 in personnel costs, and $321,340 for professional and other consulting fees..
For the fiscal year ended June 30, 2008 and June 30, 2007, selling, general and administrative expense was 761.8% and 163.1%, respectively, of net sales. The increase in the percentage is primarily attributed to the entry into a new market resulting in additional costs required to market and sell our product, including the hiring of consultants.
Net Income and Loss
Our net loss was $2,025,809 for the fiscal year ended June 30, 2008 and our net loss was $851,230 for the fiscal year ended June 30, 2007. We recently began operating our business, including efforts to market and sell our products, and revenues generated were not sufficient to cover our operating costs. We are continuing our efforts to market and sell our products in order to generate a higher sales volume and unless and until such time as we generate substantially higher sales volume, we will continue realize net losses.
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