lässt natürlich für den Kurs nicht unbedingt etwas gutes erwarten wenn wieder mal xxx Mios Shares auf den Markt geworfen werden (müssen) ;-(((((((((((((((((((((((((((
Cash and Working Capital
The Company's cash balance as of September 30, 2007 was $62,188, as compared to the cash balance of $68,923 as of December 31, 2006.
Three Month Period Ending September 30, 2007
Operating expenses for the three month period ended September 30, 2007 totaled $192,507 and from inception to the period ended September 30, 2007 totaled $5,045,545. The company experienced a net loss of $179,975 and $5,013,139 for the three month period ended September 30, 2007 and from inception to period ended September 30, 2007, respectively, against $32,406 in revenue, $30,206 from operations and $2,200 from interest in the entire period and $12,532 in revenue, consisting of $12,140 in revenues from sales and $392 in interest for the three month period ending September 30, 2007. The major expenses during this three month period were for general and administrative expenses, research and development expenses on our websites and legal and accounting fees.
Revenues increased during the period as compared with comparable periods in 2006. In contrast to our performance over the same 9 month period ending September 30, 2006, where revenues from operations were $8,950, revenues from operations in the nine month period ending September 30, 2007 were $17,056, representing a 91% increase. For the three month period ending September 30, 2006, our revenues from operations were $2,181 as compared to $12,140 for the three month period ending September 30, 2007, an increase of 457%.
Expenses present a mixed picture when compared with comparable periods in 2006. In contrast to our performance over the same 9 month period ending September 30, 2006, where expenses were $256,278, expenses in the nine month period ending September 30, 2007 were $504,686, representing a 97% increase. This increase is almost entirely attributable to the cancellation of previously issued stock based compensation. Excluding this cancellation, expenditures for both general administrative expenses and research and development were higher in the 2006 period. For the three month period ending September 30, 2006, our expenses were $205,513 as compared to $192,507 for the three month period ending September 30, 2007, a decrease of 6%.
The earnings per share (fully diluted -- weighted average) consisted of a net loss of $0.00 for the three month period ended September 30, 2007.
Liquidity and Capital Resources
For the nine month period ended September 30, 2007, net cash used in operating activities, consisting mostly of loss from operations was $500,993. For the period from inception to September 30, 2007, net cash used in operating activities, consisting mostly of loss from operations was $2,512,585.
For the period from inception to September 30, 2007, net cash resulting from financing activities was in the amount of $2,654,851. Cash proceeds from the sale of common stock during the three month period ending September 30, 2007 were $200,000.
Our capital resources have been limited. We have not yet generated significant revenues, and to date have relied on the sale of equity and related party loans for cash required for our activities. No investment banking agreements are in place and there is no guarantee that the company will be able to raise capital in the future should that become necessary.
Future Financings
We anticipate that if we pursue any additional financing, the financing would be an equity financing achieved through the sale of our common stock. We do not have any arrangement in place for any debt or equity financing. If we are successful in completing an equity financing, existing shareholders will experience dilution of their interest in our company.
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