no problem Jerry, the last report was a little confusing;
>>>"In the fourth quarter of 1999, myTrack services comprised $2,260,000,
as compared to $406,000 in the fourth quarter of 1998, an increase of
457%. We expect to obtain our own broker-dealer license in the second
quarter of 2000. Until we obtain the license, trading revenues include
only those from licensing our trading system, rather than the full
commission. Had we recognized full commissions, myTrack revenues for
the fourth quarter of 1999 would have been $3,853,000, as compared to
$2,463,000 in the third quarter of 1999, an increase of 56%.<<<
After reading just the above part, I would agree with you; however when you read the paragraph preceding that one;
>>>Marketing and advertising costs for the quarter were $1,907,000. These
marketing costs will continue to adversely affect earnings in the
future. Further, in the fourth quarter, the Company incurred costs of
$307,000 for certain internal system and third party system failures
related principally to trade cancellations.<<<
Mytrack rev's for the Q 2,260,000.00
-advertising for the Q 1,907,000
-incurred costs for the Q 307,000
___________________________________________________________
total for the Q 46,000.000
you can see that the advertising and incurred costs offset the increase from MyTrack sales. The data business is still solid and not offsetting the gains of MyTrack. Those expenses should be minimized now that their OLB is a little more mature and word of their superior system is spreading word-of-mouth.
Also, many other OLB's are shying away from online trading of OTCBB's and TRAC is the only one I know of that's embracing that portion of the market.
:)
IC (long TRAC) |
