Part 1 FINANCIAL INFORMATION Item 1. Financial Statements
ELEPHANT TALK COMMUNICATIONS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET JUNE 30, 2005 (UNAUDITED)
ASSETS CURRENT ASSETS Cash and cash equivalents $ 176,410 Accounts receivable, net 15,346 Advances to third parties 689,231 Due from related parties 36,371 Prepaid expenses and other current assets 49,273 -------------- Total Current Assets 966,631 -------------- PROPERTY AND EQUIPMENT - NET 76,513
OTHER ASSETS Earnest deposit for acquisitions 7,106,526 -------------- Total Other Assets 7,106,526 -------------- TOTAL ASSETS $ 8,149,670 ============== LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES Overdraft $ 139,821 Accounts payable and customer deposits 103,047 Advances from third party 113,759 Deferred revenue 110,194 Accrued expenses and other payable 47,772 Current portion of note payable 659,371 Due to related parties 161,606 -------------- Total Current Liabilities 1,335,570 -------------- LONG-TERM LIABILITIES Note payable 277,495 -------------- TOTAL LIABILITIES 1,613,065 --------------
ELEPHANT TALK COMMUNICATIONS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET JUNE 30, 2005 (UNAUDITED) (continued)
COMMITMENT AND CONTINGENCIES -
STOCKHOLDERS' EQUITY Preferred stock Class B, no par value, 5,000,000 shares authorized. none issued and outstanding - Common stock, no par value, 250,000,000 shares authorized, 203,107,170 issued and outstanding 14,117,336 Common stock, no par value, 95,947,395 shares to be issued for acquisition 4,137,896 Accumulated comprehensive loss (10,958) Accumulated deficit (11,707,669) -------------- Total Stockholders' Equity 6,536,605 -------------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 8,149,670 ==============
ELEPHANT TALK COMMUNICATIONS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) <TABLE> <S> <C> <C> <C> <C> For three months ended For six months ended June 30, June 30, 2005 2004 2005 2004 ------------ ------------ ------------ ------------ REVENUES $ 79,800 $ 172,113 $ 203,633 $ 351,980
Selling, general and administrative 521,247 747,618 729,988 1,404,930 Depreciation and amortization 19,612 (23,305) 38,056 43,244 ----------- ----------- ----------- ----------- Total Operating Expenses 540,859 724,313 768,044 1,448,174 ----------- ----------- ----------- ----------- LOSS FROM OPERATIONS (534,522) (711,367) (730,485) (1,371,180)
OTHER INCOME (EXPENSE) Interest income 170 - 657 -
Interest expense (51,121) - (59,460) (10,538)
Loss on disposal of fixed assets (48,370) - (48,370) -
Equity in loss of unconsolidated affiliate - (9,500) - (9,500)
Loss on settlement - (11,736) - (11,736)
Gain on settlement of vendor payables 49,031 - 49,031 227,655 ----------- ----------- ----------- ----------- Total Other Income (Expense) (50,290) (21,236) (58,142) 195,881 ----------- ----------- ----------- ----------- LOSS BEFORE INCOME TAXES (584,812) (732,603) (788,627) (1,175,299) Income taxes - - 800 800 ----------- ----------- ----------- ----------- LOSS BEFORE DISCONTINUED OPERATIONS: (584,812) (732,603) (789,427) (1,176,099)
ELEPHANT TALK COMMUNICATIONS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) (continued) <TABLE> <S> <C> <C> <C> <C> For three months ended For six months ended June 30, June 30, 2005 2004 2005 2004 ------------ ------------ ------------ ------------
DISCONTINUED OPERATIONS: Loss from discontinued operations (7,229) - (7,229) - Gain from disposal of discontinued operations 7,229 - 7,229 - ----------- ----------- ----------- ----------- - - - - ----------- ----------- ----------- ----------- NET LOSS $ (584,812) $ (732,603) $ (789,427) $(1,176,099)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation gain (loss) - (3,681) 644 (4,492) ----------- ----------- ----------- ----------- - (3,681) 644 (4,492) ----------- ----------- ----------- ----------- COMPREHENSIVE LOSS $ (584,812) $ (736,284) $ (788,783) $(1,180,591) =========== =========== =========== =========== Net loss per common share and equivalents - basic and diluted Loss from continuing operations $ (0.01) $ (0.02) $ (0.01) $ (0.02) Loss from discontinued operations $ - $ - $ - $ - ----------- ----------- ----------- ----------- $ (0.01) $ (0.02) $ (0.01) $ (0.02) =========== =========== =========== =========== Weighted average shares outstanding during the period - basic and diluted 77,829,747 46,306,888 72,459,626 49,365,398 =========== =========== =========== =========== </TABLE>
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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posted
hey this streamer finally is returning some results, its been boring the last few weeks it hadnt caught much, now shes on fire, gotta love fall time
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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posted
microcaptrade, you like? lol this filter has been quiet the past month or so
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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posted
nothing but applying a nice refined filter has produced: LBTN ONEV BWDI GTEC EKWX AURAQ all in the green, all posted here :-) lets make some money!
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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posted
Looks like it could have a nice day tomorrow ( bounced hard above its 20 day MA but you think that his will become a long term up trend?
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