Pacific Sands          Annual     Annual     Quarterly   Quarterly   Quarterly   Quarterly   Quarterly   Quarterly   Quarterly   Quarterly          Jun 30 '04 Jun 30 '05 Jun 30 '04  Sep 30 '04  Dec 31 '04  Mar 30 '05  Jun 30 '05  Sep 30 '05  Dec 31 '05  Mar 31 '06 Net Sales    61,703    219,573     22,079      16,959      20,019      56,528     126,067      71,234      59,348     136,805 GOGS         11,612    102,048      4,155      10,542       4,903      30,796      55,807      22,579      37,421      57,606 Gross Profit 50,091    117,525     17,924       6,417      15,116      25,732      70,260      48,655      21,927      78,199 Selling Exp 225,277    431,024     26,483                  81,276                             154,855     147,554     188,229 Other Income 36,415     16,501                                                                     11           4          16 Other Expenses           3,433     36,415                                                       3,823       1,561       2,434 Net Gain (?)-138,771  -300,431     27,856    -114,623     -66,160     -68,061     -51,586    -110,012    -127,184    -111,448 										 Profit Margin   19%        46%        19%         62%         24%         54%         44%         32%         63%         42%
  
  The business appears to be growing. I have a large concern about the selling expense, but that is a necessary cost unless the owner is selling without compensation. |