2010 10K is Released ...
......I broke out the Q4 numbers :
Q4 Revenue 515.8K (a record for the company)
Q4 net profit 68K (probably a record also)
Clearly CYIO is growing the business .....
From the 10K:Yearly profit when Non-Cash Stock Comp Taken out ..
"The total sales for our active subsidiary, CYIOS Corporation, a District of Columbia corporation, for the fiscal year ended December 31, 2010, were $1,849,804 compared to $1,881,897 for the fiscal year ended December 31, 2009; a decrease in sales of $32,093 or 1.71%. Our other active subsidiary, CKO, Inc., a District of Columbia corporation, produced no revenue for the fiscal years ended December 31, 2010 and 2009. Operating net loss for the year ended December 31, 2010 was $394,051, a net operating loss per share of $.01, compared to a net operating loss for the fiscal year ended December 31, 2009 of $21,044, or a net operating loss per share of $.00. Net income from discontinued operations was $0 for the year ended December 31, 2010 and $17,068 for the year ended December 31, 2009. Total net loss for the year ended December 31, 2010 was $394,051 or a net loss per share of $.01 as compared to total net loss for the year ended December 31, 2009 in the amount of $3,976 or a net loss per share of $.00. Included in the net loss for the year ended December 31, 2010 is a non-cash expense for stock compensation in the amount of $416,167. If these non-cash expenses are not included we would have posted a net income of $16,766 as opposed to a net loss of $394,051. Also note that during the year 2010, we incurred approximately $160,000 of our own money towards the development and marketing of CYIPRO. Thus, if we had not incurred these additional expenses, we would have posted a net income of approximately $182,116 for the year ended December 31, 2010. In 2006, management made the decision to expand our operations by attempting to increase our business with the Department of Defense and the rest of the federal government. In order to achieve this goal, we have actively bid on request for proposals by different departments and their agencies. We have, and will continue to invest all of our earnings into additional personnel to help achieve this goal. We believe that our efforts in working to achieve the aforementioned goals will help turn our operating losses into a net profit in the 2 fiscal years and beyond. We are also aggressively marketing the sale of our product CYIPRO to Department of Defense, government and small businesses. In the latter part of 2010 and in early 2011 we have launched a new marketing campaign to inform the public about our product CYIPRO." |
