dagoweb
02-12-05, 11:26
During the fiscal year ended June 30, 2005 we earned net profit of $541,823. However, we still have an accumulated deficit of $8,398,211. Our auditor, E. Randall Gruber, CPA, PC, has issued a "going concern" opinion for our financial statements at June 30 2005.
Results of Operations
The following is summary financial information reflecting our operations for the periods indicated.
Year Ended June 30,
2004 2005
---- ----
Net revenues $1,827,382 $16,834,252
Cost of revenues (1,466,213) (11,437,855)
Gross profit 361,169 5,396,397
Selling, general and administrative (1,216,760) (1,690,609)
Amortization on intangible assets - (504,293)
Gain/(loss) on disposal of fixed assets 5,356 (6,795)
Impairment of software license (31,250) -
Loan Interest income - 13
Investment income - 27,130
Profit/(loss) from operations (881,485) 3,221,843
Share of profit of an associated
Company 141,824 195,175
Other income/(loss), net (493) 15,153
Profit/(loss) before taxation (740,154) 3,432,171
Taxation (6,867) (759,096)
Profit/(loss) before minority interest (747,021) 2,673,075
Minority interests (63,710) (2,131,252)
Net profit/(loss) $(810,731) $541,823
* Sec filling completo : http://biz.yahoo.com/e/051117/imot.ob10ksb_a.html
Results of Operations
The following is summary financial information reflecting our operations for the periods indicated.
Year Ended June 30,
2004 2005
---- ----
Net revenues $1,827,382 $16,834,252
Cost of revenues (1,466,213) (11,437,855)
Gross profit 361,169 5,396,397
Selling, general and administrative (1,216,760) (1,690,609)
Amortization on intangible assets - (504,293)
Gain/(loss) on disposal of fixed assets 5,356 (6,795)
Impairment of software license (31,250) -
Loan Interest income - 13
Investment income - 27,130
Profit/(loss) from operations (881,485) 3,221,843
Share of profit of an associated
Company 141,824 195,175
Other income/(loss), net (493) 15,153
Profit/(loss) before taxation (740,154) 3,432,171
Taxation (6,867) (759,096)
Profit/(loss) before minority interest (747,021) 2,673,075
Minority interests (63,710) (2,131,252)
Net profit/(loss) $(810,731) $541,823
* Sec filling completo : http://biz.yahoo.com/e/051117/imot.ob10ksb_a.html