As of September 30, 2010, June 30, 2010, March 31, 2010 UNAUDITED 9/30/2010 6/30/2010 3/31/2010 ASSETS: Current Assets: Cash $ 1,518.12 $ 958.42 $ 934.97 Accounts Receivable 49,498.11 (9,009.11) 7,736.25 Other Receivables - 72,637.47 72,637.47 Inventory 35,008.00 35,008.00 35,008.00 Prepaid Expenses - - - Total Current Assets 86,024.23 99,594.78 116,316.69 Property, Plant and Equipment 317,076.22 317,076.22 317,076.22 Less Accumulated Depreciation (259,783.71) (259,783.71) (259,783.71) Property, Plant and Equipment, net 57,292.51 57,292.51 57,292.51 Other Assets: Organization Costs, Net - - - Investment in Flyfone - - - Investment in Mission Group - - - Other Assets 1,164.52 1,164.52 1,164.52 Total Assets $ 144,481.26 $ 158,051.81 $ 174,773.72 Liabilities and Shareholder's Equity: Current Liabilites: Trade Payables $ 605,237.86 $ 662,878.72 $ 651,681.56 Customer Deposits - - Accrued Wages and Payroll Taxes - - - Other Current Liabilities (24,327.90) (24,327.90) 15,535.89 Notes Payable -- Convertible 201,000.00 201,000.00 741,500.00 Interest Payable Conv. Notes - - - Total Current Liabilites 781,909.96 839,550.82 868,217.45 Long-Term Liabilities: Notes Payable 593,890.25 535,421.73 499,012.08 Interest Payable on LT Notes 446,368.93 446,368.93 321,171.14 Unearned Revenue 206,200.00 256,300.00 306,400.00 Total Long-Term Liabilites 1,246,459.18 1,238,090.66 1,126,583.22 Shareholder's Equity Common Stock 4,095,585.78 4,095,585.78 4,095,585.78 Common Stock -- Stock Purchase Plan 2,823,058.60 2,823,058.60 2,823,058.60 Stock Premium 1,721,825.91 1,721,825.91 1,776,825.91 Retained Earnings (10,542,314.50) (10,542,314.50) (10,542,312.63) Current Earnings 17,956.33 (17,745.46) 26,815.39 Total Shareholder's Equity (1,883,887.88) (1,919,589.67) (1,820,026.95) Total Liabilities and Shareholder's Equity $ 144,481.26 $ 158,051.81 $ 174,773.72
My Social Income, Inc. Consolidated Statements of Operations For the Quarters Ended September 30, 2010, June 30, 2010, March 31, 2010 UNAUDITED 9/30/2010 6/30/2010 3/31/2010 REVENUES: Product Sales, Net $ 51,117.40 $ 51,000.00 $ 50,100.00 Licensing and Marketing Product Sales - - - TOTAL REVENUES 51,117.40 51,000.00 50,100.00 LESS: Cost of Goods Sold 0.00 91,611.40 - Sales Commissions - - - Gross Profit 51,117.40 142,611.40 50,100.00 OPERATING EXPENSES: Personnel and Administrative Expenses 89,300.75 18,520.52 22,462.53 Administrative Expenses Paid in Stock - - - Selling Expenses - - - Interest Expense - 119,326.21 - Banking and Credit Card Fees 419.00 (7,354.77) (885.23) Professional Fees (56,558.68) 30,234.90 1,707.31 Bad Debt Expense - - - All Other Expenses - (370.00) - Total Operating Expenses 33,161.07 160,356.86 23,284.61 Operating Net Loss 17,956.33 (17,745.46) 26,815.39 OTHER INCOME(EXPENSE): Other Revenue - - - Other Expense - - - Gain(Loss) On Disposal of Assets - - - Total Other Income(Expense) - - - Net Income(Loss) $ 17,956.33 $ (17,745.46) $ 26,815.39 My Social Income, Inc. Consolidated Statements of Cash Flows For the Quarters Ended September 30, 2010, June 30, 2010, March 31, 2010 unaudited 9/30/2010 6/30/2010 3/31/2010 Cash Flows From Operating Activities: Net Loss $ 1 7,956.33 $ ( 17,745.46) $ 2 6,815.39 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation and Amortization - - - Change In: Accounts Receivable ( 58,507.22) 16,745.36 (14,485.67) Other Receivables 7 2,637.47 - - Inventory - - - Prepaid Charges - - - Other Assets - - - Trade Payables ( 57,640.86) 11,197.16 8,241.93 Payroll Liabilities - - - Interest Payable - 125,197.79 - Other Current Liabilities - ( 39,863.79) ( 79.45) Other Non-Current Liabilities ( 50,100.00) ( 50,100.00) (50,100.00) Net Cash Used in Operating Activties ( 75,654.28) 45,431.06 (29,607.80) Cash Flows From(Used in) Investing Activities: Purchase of Property, Plant and Equipment - - - Investment in FlyFone - - - Investment in Mission Group - - - Investment in Airplane - - - Net Cash From(Used in) Investing Activities - - - Cash Flows From Financing Activities: Proceeds from Issuance of Notes Payable 5 8,412.52 36,353.65 (625,358.02) Conversion of Notes to Common Stock - - - Proceeds from Issuance of Common Stock - ( 55,000.00) 6 50,500.00 Net Cash From Financing Activites 5 8,412.52 ( 18,646.35) 25,141.98 Net Increase(Decrease) in Cash and Equivalents ( 17,241.76) 26,784.71 (4,465.82) Cash and Equivalents, Beginning of Quarter $ 39,396.30 1 2,611.59 17,077.41 Cash and Equivalents, End of Quarter $ 22,154.54 $ 39,396.30 $ 12,611.59 My Social Income, Inc. Statement of Changes in Shareholder's Equity UNAUDITED For the Quarters Ended September 30, 2010, June 30, 2010, March 31, 2010 6/30/2010 6/30/2010 3/31/2010 Balance, Beginning of Quarter $ (1,906,759.18) $ (1,807,198.33) $ (2,484,513.72) Notes Payable Converted to Common Stock - - Common Stock Issued - ( 55,000.00) 650,500.00 Common Stock Acquired - - - Dividends Declared on Common Stock - - - Comprehensive Income: Net Loss 17,956.33 (44,560.85) 26,815.39 Total Comprehensive Loss 17,956.33 (44,560.85) 26,815.39 Balance, End of Quarter $ (1,888,802.85) $ (1,906,759.18) $ (1,807,198.33)
News 
Market Data 
Discover 
AI
