The following income statement from the 10Q proves that
your statement: "The fact is, CTICO is now making money!"
is incorrect.
In addition to the lack of revenue, note also:
* the large net loss
* the enormous dilution of shares outstanding over the past year
* the meager expenditures on R&D since the co.'s inception
COMPUTERIZED THERMAL IMAGING, INC.
(A Development Stage Company)
Consolidated Statements of Operations
(Unaudited)
From
Inception on
Three Months Three Months June 10, 1987
Ended Ended through
September 30, September 30, September 30,
1999 1998 1999
------------- ------------- -------------
REVENUES
Interest income $ 1,493 $ 733 $ 27,500
Income from sale of prototype - - 180,815
------------- ------------- -------------
Total Revenues 1,493 733 208,315
------------- ------------- -------------
COSTS AND EXPENSES Operating, general and
administrative expenses 410,579 400,540 16,704,889
Research and development costs 695,677 636,967 7,727,923
Interest expense - 168,489 2,140,333
Litigation settlement - - 514,380
------------- ------------- -------------
Total Costs and Expenses 1,106,256 1,205,996 27,087,525
------------- ------------- -------------
LOSS BEFORE EXTRAORDINARY ITEM (1,104,763) (1,205,263) (26,879,210)
EXTRAORDINARY GAIN ON
EXTINGUISHMENT OF DEBT - - 65,637
------------- ------------- -------------
NET LOSS $ (1,104,763) $ (1,205,263) $(26,813,573)
============= ============= =============
WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING 64,473,681 48,336,957
============= =============
LOSS PER COMMON SHARE $ (0.02) $ (0.02)
============= ============= |
