Replies to post #45 on SPYR Inc (SPYR)

[weekend farmer]

'Eat at Joe's Ltd and Joe's Crab Shack are two different companys one has nothing to do with the the other.

Results of Operations - For the six months ended June 30, 2012, the Company had a net loss of $21,782 composed of a loss from operations of $55,540 and net other income of $33,758. For the six months ended June 30, 2011, the Company had a net gain of $11,929 composed of loss from operations of $2,288 and net other income of $14,217. Net other income/loss is primarily due to gains and losses from the sale of trading and available for sale securities and the unrealized gains and losses on trading securities.

Total Revenues - For the six months ended June 30, 2012 and 2011, the Company had total sales of approximately $602,000 and $335,000, respectively, for an increase of approximately $267,000. The increase is mainly due to the restaurant being closed effective February 21, 2011 for remodeling. The restaurant reopened on May 27, 2011. Also, the overall economic condition of the country has caused airport traffic to decline. Consumers are spending and traveling less and airlines are eliminating or combining flights. There is a direct correlation between airport traffic and the Company’s sales. As the economy stabilizes and moves toward a recovery, airport traffic is expected to increase and will be reflected in increased sales for the Company.

Costs and Expenses - Costs of revenues, which include the costs of food, beverage, and kitchen supplies slightly increased as a percentage of sales from 2011 to 2012. This was mainly due to the increase in sales in 2012 compared to 2011, and to the restaurant being closed for remodeling during the 2011 year. The cost of labor, rent and other general and administrative costs, were similar as a percentage of sales for the six months ended June 30, 2012 compared to the six months ended June 30, 2011.
http://ih.advfn.com/p.php?pid=nmona&article=53811970