Here's a little on TUBM ....
yahoo.brand.edgar-online.com
Has 25mil OS , and sitting here with over---> $150Mil Cap!
Does lil' Ledbed also take credit when the over 90% of his "picks" also lose 100-300% of their values after they run-up ? ;)
TUBM: filing 10QSB 12/09/2005
:Results of Operations for the Three Months ended September 30, 2005 and 2004
Revenues were $94,000 in the three months ended September 30, 2005 and $0 in the three months ended September 30, 2004. Approximately $77,000 of this amount was related to recorded music shipments by AGU Music and the remainder was generated by AGU Studios. AGU Music had gross profit of $69,000 and AGU Studios had gross profit of $17,000 during the period.
Operating expenses were $1,896,000 and $1,801,000 in the three months ended September 30, 2005 and 2004, respectively, the majority of which was general and administrative expenses. Thus far in 2005 our liquidity constraints have severely limited our ability to engage in marketing, promotion, advertising and similar expenses necessary to develop our business. We expect this trend to continue until such time as we can complete a substantial debt or equity offering, and complete the sale of the Lauderdale Property.
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Interest expense in the three months ended September 30, 2005 was $2,345,000, as compared to $55,000 in 2004, and includes $1,877,587 for the reduction of debt discounts and the amortization of deferred financing fees. The remainder of the increase in interest expense was the result of increased indebtedness in 2005.
We did not record a tax benefit during this period as we determined that it was more likely than not that we would not be able to generate sufficient taxable income to use any net deferred tax assets. As such, we increased our valuation allowance for the net deferred tax asset that existed at December 31, 2004 so that no net tax benefit was recorded in 2005.
Our net loss for the quarter ended September 30, 2005 was $4,154,000, as compared to $1,845,000 in the prior year.
Results of Operations for the Nine Months ended September 30, 2005 and 2004
Revenues were $352,000 for the nine months ended September 30, 2005 and $15,000 for the nine months ended September 30, 2004. Approximately $213,000 of this amount was related to recorded music shipments by AGU Music and the remainder was generated by AGU Studios. AGU Music had gross profit of $216,000 and AGU Studios had gross profit of $79,000 during the period.
Operating expenses were $6,513,000 and $4,227,000 for the nine months ended September 30, 2005 and 2004 respectively, the majority of which was general and administrative expenses. Thus far in 2005 our liquidity constraints have severely limited our ability to engage in marketing, promotion, advertising and similar expenses necessary to develop our business. We expect this trend to continue until such time as we can complete a substantial debt or equity offering and sale of the Lauderdale Property.
Interest expense for the nine months ended September 30, 2005 was $5,442,000, as compared to $100,000 for the nine months ended September 30, 2004, and includes $4,245,000 for the reduction of debt discounts and the amortization of deferred financing fees. The remainder of the increase in interest expense is the result of increased indebtedness in 2005.
We did not record a tax benefit during this period as we determined that it was more likely than not that we would not be able to generate sufficient taxable income to use any net deferred tax assets. As such, we increased our valuation allowance for the net deferred tax asset that existed at December 31, 2004 so that no net tax benefit was recorded in 2005.
Our net loss for the nine months ended September 30, 2005 was $11,660,000, as compared to $4,301,000 in the prior year.
We anticipate entering into several additional affiliate agreements with digital broadcasters, which will allow The Tube to be seen in approximately 20 million homes in 2006. While we expect this market penetration to generate a substantial increase in marketing, promotion and other expenses at The Tube , we also expect that our revenues will ultimately increase sufficiently enough to cover these increases. Thus, we believe that our results of operations in fiscal 2004 and 2005 are not indicative of our projected results of operations in fiscal 2006 and beyond. |
