Replies to post #34377 on The Golden Lounge

[Lazarus]

it probably IS better than MOST of the trash...

my only point is that in the bigger picture the company doesnt have much cash: LOOK - CURRENT LIABILITIES EXCEED CURRENT ASSETS.

ASSETS 
   CURRENT ASSETS: 
     Cash and cash equivalents                         $       402,290 
     Accounts receivable (net of 
       allowance for doubtful accounts 
       of $75,000)                                             158,930 
     Tax deferred asset                                         11,600 
                                                          ------------- 
       Total Current Assets                                    572,820 
                                                          ------------- 
   EQUIPMENT, FURNITURE AND FIXTURES: 
     Computer and office equipment                              75,713 
     Furniture and fixtures                                    204,858 
     Leasehold improvements                                     12,000 
                                                          ------------- 
                                                               292,571 
     Less- Accumulated depreciation                            268,017 
                                                          ------------- 
       Equipment, Furniture, and Fixtures, Net                  24,554 
                                                          ------------- 
   OTHER ASSETS                                                 13,500 
                                                          ------------- 
 Total assets                                          $        610,874 
                                                          ============= 
 LIABILITIES AND STOCKHOLDERS' DEFICIENCY 
   CURRENT LIABILITIES: 
     Accounts payable and accrued expenses             $       401,124 
     Taxes payable                                              25,100 
     Deferred revenue                                          399,800 
     Notes payable - current                                   129,691 
                                                          ------------- 
       Total Current Liabilities                               955,715 
  
  
 

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AND the company is losing a customer that accounts for approx 20% of existing revenues which are essentially FLAT:

 THREE MONTHS ENDED SEPTEMBER 30,     NINE MONTHS ENDED SEPTEMBER 30, 
                                        2004                2003             2004                2003 
                                    ------------        ------------     ------------        ------------ 
 <S>                                <C>                 <C>              <C>                 <C> 
 NET SALES                             $389,620            $366,463       $1,061,572          $1,020,599 
                                    ------------        ------------     ------------        ------------ 
 

so --- you better hope that some of the products they are releasing brings in the bucks --- otherwise the next couple of Q s are likely to look dismal.

Lazarus

[ChrisJP]

EGHT -- man I was so psyched to see it up 90 cents today (25%) and then I see the posts on MLON. Jeeeez.

Chris

[Lazarus]

gee... i dont even see you buying at .06

wazzamatta??? you stock go in da tankie???

[Lazarus]

well i saw it all the way down at .05...

and didnt see many buyers --- SO YOU MUST NOTA BEEN TRYING VERY HARD!

lol