TBIN losing big money last two Qs, and only 6k revenues in the last Q ending December 31st.Also from my calculations, for the Q ended December 31st, they lost $246,000
and for Q ended September 30th 2002, they lost $146,000.So for the last two Qs company lost $392,000.WOW.6k only revenues for last Q.LOL.
Where is the good news about TBIN?Last part also going concern.Read the numbers below.
Sneaky PR, if you do not see the rest of the past numbers.LOL.
(COMTEX) B: Thoroughbred Interests Reports Record Revenues and Earnings fo
B: Thoroughbred Interests Reports Record Revenues and Earnings for 2002
LOUISVILLE, Ky., May 5, 2003 (BUSINESS WIRE) -- Thoroughbred Interests, Inc.
(OTCBB:TBIN) announced today record revenues and earnings for 2002. Revenues for
2002 were a record $1,972,307 versus $883,179 for 2001. The gross profit, which
was also a record, was $1,161,807 for 2002 versus $474,014 for 2001. This
represents increases of over 200% and 250% respectively. Net income was $81,447
versus a loss of ($165,196) for 2001.
For the three-month period ended September 30, 2002, the Company
reported revenues of $170,400 as the result of selling fewer horses in
the quarter, versus $304,371 for the same period in 2001. A net loss
of $(141,452),/b> was recorded compared to net earnings of $28,309 for the
same period last year.
For the nine-month period ended September 30, 2002, Thoroughbred
Interests reported revenues of $1,966,171, compared to $480,334 for the
same period in 2001, or an increase of 309%. The increase in revenues
is the result of more sales of horses at higher prices that occurred
in the 2002 period.
Gross profit for the nine months ended September 30, 2002 was
$1,193,411 compared to $145,669 for the same period in 2001. The
increase in gross profit is the result of more profitable horses being
sold during the period.
Net income for the nine-months ended was $327,499 compared to a
net loss of ($313,193) for the same period in 2001. The turnaround in
profitability is the result of the Company's emerging from a start-up
to developmental stage and as a result of selling more horses
profitably.
NOTE 7 – GOING CONCERN
The Company has prepared its financial statement assuming a going concern. Due to the Company's unsuccessful attempts to raise sufficient funding and its previous sustained operating losses has reduced its working capital to an unacceptable level to pursue its business plan. The Company has received extensions of its indebtedness to the Augustine Fund L P in the past; it is uncertain whether an additional extension will be granted on May 4, 2003 for an extended time to satisfy its obligation of $362,900. The note maker has expressed a willingness to convert its debt for shares of common stock recently, but due to the uncertainty for the market of the Company's stock, there are no assurances that this will be continued at this time. The Company anticipates the filing of a stock registration in the near future and will continue to pursue venture capital. |
