posted
SEIH has been making a long road back. Looks like she's ready to get moving:
Liquidity and Capital Resources
As of June 30, 2006 the Company had $1,466,505 in current assets which exceeded current liabilities by approximately $419,858. The Company has accumulated $6,016,780 of net operating losses through June 30, 2006, which may be used to reduce taxes in future years through 2026. The use of these losses to reduce future income taxes will depend on the generation of sufficient taxable income prior to the expiration of the net operating loss carry-forwards. The potential tax benefit of the net operating loss carry-forwards have been offset by a valuation allowance of the same amount. The Company has not yet established revenues to cover its operating costs. Management believes that the Company will soon be able to generate revenues sufficient to cover its operating costs through the acquisition of operating subsidiaries. In the event the Company is unable to do so, and if suitable financing is unavailable, there is substantial doubt about the Company's ability to continue as a going concern.
Results of Operations
The Company reported revenues of $3,779,563 for the fiscal year ended June 30, 2006. The revenues earned in the fiscal year ended June 30, 2006 were generated from sales and services.
For the year ended June 30, 2006 the Company had a net gain of $421,868, or approximately $0.00024 per share compared to a net loss of $1,806,568, or approximately ($0.0014) for the fiscal year ended June 30, 2005. Cost of material increased $1,350,725 to $1,364,555 for the fiscal year ended June 30, 2006 from $13,830 for the year ended June 30, 2005. General and administrative expense decreased $297,589 to $404,955 for the year ended June 30, 2006 from $702,544 for the year ended June 30, 2005 due to decrease in secure soft operations.
posted
I hope we're right. I've been long this disaster. I would like to get back into the black and sell. I really don't see this going anywhere far. It has 2.3 billion shares way too many for this to go into the pennies.
Posts: 806 | From: CT | Registered: Dec 2005
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posted
I bought this today as a break over resisatnce chart play-it appears to have been a good choice!
Posts: 292 | Registered: Mar 2006
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posted
Lol, the Bickels have been pulling this nonsense with SEIH since the day they took it over. I actually thought back when I posted that we might be turning around. Lol, the exceptional, world class management of Jim Bickel has gotten SEIH demoted to the Pinks with a pps of .0005.
Great job Jim! Oh and for all you FCCN's this guy is on your BOD apparently. Red flag.
Posts: 630 | Registered: Jun 2006
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