AOXY: Appears to be getting it together.
May 14, 1998
ADVANCED OXYGEN TECHNOLOGIES INC (AOXY)
Quarterly Report (SEC form 10QSB)
Item 2- MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS.
On March 9, 1998, pursuant to an Agreement for Purchase and Sale of Specified Business Assets, a Promissory Note, and a Security Agreement all dated March 9, 1998, Advanced Oxygen Technologies, Inc.(the "Company") purchased certain tangible and intangible assets (the "Assets") including goodwill and rights under certain contracts, from Integrated Marketing Agency, Inc., a California Corporation ("IMA").
The Company used the Assets to generate revenues through database management, fax broadcasting, sales of Multi-Media CD-ROMs containing speeches from the database and commissions on the sales of registrations associated with production of the CD's.
On March 9, the company began renting approximately 6,000 square feet of industrial office space in Santa Clarita, CA on a month to month basis. The company hired five (5) additional employees in March.
In March the company entered into lease agreements to lease office equipment consisting of computers, phones, peripherals, copies, and other office equipment. |
