Chens friends at Domain Extremes are really kicken arse?
Results of Operations for the Three and Six Months Ended June 30, 2012 and 2011
Balance Sheet
Our total assets at June 30, 2012 were $61,823 compared to $42,968 at December 31, 2011. Our total liabilities were $89,202 at June 30, 2012 compared to $18,784 at December 31, 2011, principally due to the decrease of $227 in accrued expenses and increase of $73,263 in advance from related parties. As a result, net assets for the period under review have decreased from $24,184 at December 31, 2011 to ($27,379) at June 30, 2012.
Net Sales
We generated revenues of $4,135 and $8,269 for the three and six months, respectively, ended June 30, 2012, compared to $4,307 and $8,615 for the three and six months, respectively, ended June 30, 2011. The decrease in revenue was mainly due to discounts offered to our advertisers. Our principal source of revenues is from advertising banners on our websites. We also intend to generate future revenues from advertising and user fees related to our mobile phone applications.
Net Income (Loss)
We have incurred a net loss of $25,549 and $51,563 for the three and six months, respectively, ended June 30, 2012 and $3,473 and $5,800 for the three and six months, respectively, ended June 30, 2011, principally due to a substantial increase in our administrative expenses as we have increased our development activities.
We incurred general, administrative and operating expenses of $29,684 and $59,832 for the three and six months, respectively, ended June 30, 2012 and $7,780 and $14,415 for the three and six months, respectively, ended June 30, 2011. Of these amounts, $18,500 and $32,600 related to the value of cash compensation to our directors for the three and six months, respectively ended June 30, 2012 and $2,308 and $4,615 related to the value of share-based compensation to our directors for the three and six months, respectively, ended June 30, 2011 in lieu of cash compensation for services rendered. In addition, a substantial portion of our expenses for the three and six months ended June 30, 2012 related to legal fees, and for the three and six months ended June 30, 2011 related to audit fees and professional fees.
Income Taxes
Due to our lack of revenues, we have not incurred any tax obligations for the three and six months ended June 30, 2012 and 2011. However, we would anticipate that income tax obligations will arise as we begin to generate significant revenue in the future.
Liquidity and Capital Resources
Market Data 
Markets 
AI
