2002 AND 2001.
Revenue increased from $495,519 for the six months ended December 31, 2001 to $834,584 for the six months ended December 31, 2002. Cost of goods sold amounted to $110,822 for the 2001 period versus $381,701 in 2002. Consequently, gross profits increased to $452,883 for the six month period ended 2002 compared to $384,697 in 2001. Expenses for the six month period ended 2002 were $420,017 resulting in a profit of $31,018 from continuing operations after interest expense of $1,848. Expenses for the six month period ended 2001 were $352,953 resulting in a profit from continuing operations of $1,027 after interest expense of $30,317. However, there was a net loss in 2001 of $93,842 after a loss on discontinued operations of ZOOM Communications of $94,869 compared with net income of $31,018 in 2002. Note that accrued salaries in the amount of $65,191 were written off in the three month period ended 9/30/02 as reported in the 10 QSB. The primary reason for a profit in the 2002 period was due to improved revenues as well as the accrued salaries that were written off versus a substantial loss in the 2001 period due to the discontinued operations of ZOOM Communications. |
