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On September 30, 2006, the Company had 200,000,000 shares of common stock authorized at a par value of $.001, and 21,408,750 shares issued and outstanding.
The company raised $83,580 with the issuance of 7,392,000 shares of stock. A beneficial interest was recognized of $74,750 to account for the discount. -------------ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
LIQUIDITY AND CAPITAL RESOURCES
At September 30, 2006, the Company had working capital of $175. The Company can rely on its Equity Line of Credit Agreement if necessary to fund operations.
RESULTS OF OPERATIONS
There was $0.00 in revenue derived from the Company for the three-month period ended September 30, 2006. There was $0 revenue for the three month period ended September 30, 2005.
There was $147,934 Operational Expenses for operations for the nine-month period ended September 30, 2006, compared to $4,492,455 in operating expenses for the nine-month period ended September 30, 2005. This decrease in operational expense is attributable to the impairment of goodwill associated with the disposition of a subsidiary in the first quarter of 2006.
There were no Sales and Marketing expenses for the three month period ended September 30, 2006, or SSeptember 30, 2005. Posts: 2503 | From: connecticut | Registered: Mar 2005
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