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INTERNATIONAL STANDARDS GROUP, LIMITED
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CONSOLIDATED STATEMENTS OF OPERATIONS
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For the Nine Months
Ended June 30,
1996 1995
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(Unaudited)
REVENUES:
Telecommunications, net $ 2,315,133 $ --
Real estate fees $ 3,732,360 $ 2,293,301
Audit fees 688,488 641,951
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6,735,981 2,935,252
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COST OF SALES:
Telecommunications 1,778,802 --
Real estate commissions 3,253,552 1,838,178
Direct audit expenses 501,218 473,340
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5,533,572 2,311,518
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GROSS PROFIT 1,202,409 623,734
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OPERATING EXPENSES:
Selling, general and
administrative 4,756,001 2,641,145
Depreciation and amortization 506,635 395,941
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5,262,636 3,037,086
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Loss from operations (4,060,227) (2,413,352)
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OTHER INCOME (EXPENSE):
Rental income 217,506 181,325
Rental expenses, including
depreciation of $94,019 for
1996 and $93,765 in 1995 (263,300) (236,274)
Interest expense (250,061) (209,562)
Interest income 3,962 7,862
Other income 1,655 (3,886)
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Total other expense (290,238) (260,535)
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Net loss $ (4,350,465) $ (2,673,887)
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