James, the following table is copied directly from the 10Q. Of interest are the Revenue, Other income, and Total Expense numbers:
Revenue $1,189,419
Interest income 36,483
Other income 1,102,657
Total 2,328,559
Expenses:
Cost of revenues 947,623
General and
administrative
expenses 707,290
Depreciation and
amortization 48,062
Interest expense 25,015
Other --
Total expenses 1,727,990
Income (loss) from
continuing
operations 600,569
Loss from discontinued
operations-net of
income taxes (3,735)
Net income (loss) 596,834
Read the paragraph you posted. In the discussion for the 3 months ended Sep 30, it says,
"Revenues increased to $1,189,419 for the three months ended September 30, 1997".
It goes on to say,
Cost of revenues, which included medical supplies, technical salaries and benefits and other expenses directly associated with the Company's services increased to $947,623 .
That only leaves $242K, and doesn't include G&A (which was $707K), depreciation, etc. The clue is in the next line:
"Other income for the three months ended September 30, 1997 consists of a cash legal settlements less $117,343 of direct expenses."
It goes on to talk about the settlement with Glick, which amounted to $1.5MM. The cash legal settlements is the $1.1MM in "other" income. How they get to call that "continuing operations" is beyond me. |
