amazing how things change with a real accounting firm, and the boys still put $200,000 a year in their pocket for rent on the old house
CONSOLIDATED STATEMENT OF INCOME (LOSS) AND RETAINED EARNINGS (DEFICIT)
FOR THE YEAR ENDED MARCH 31
NOTES 1999 1998
$ $
Revenue 13 5,985,411 7,508,432
Cost of sales 5,242,165 6,233,400
Gross profit 743,246 1,275,032
Selling, general and administrative 1,684,624 1,081,631
Research and development 14 600,997 95,664
V-Chip marketing and promotion 6,079,346 -
8,364,967 1,177,295
Income (loss) before income taxes (7,621,721) 97,737
Provision for (recovery of) income taxes - deferred (514,078) 35,810
Net Income (Loss) (7,107,643) 61,927
Retained earnings, beginning of year 790,829 1,024,640
(6,316,814) 1,086,567
Cost of issue (1,273,971) (295,738)
Retained earnings (deficit), end of year (7,590,785) 790,829
Earnings (loss) per share (0.146) 0.002
Fully diluted earnings (loss) per share (0.146) 0.001 |
