Posted On: 03/16/2016 9:12:38 PM
Post# of 8802
I was working through the numbers to get a rough estimate of what the final 10k for 2015 would look like for the combined company. Right now we have 3 quarters of iTALK and 1/2 year of UMS.
I took the first 3 quarters of italk and added an addition 3 months to make a year.
Then I took the first 6 months of 2015 for UMS and divided by 2 in order to give us 3 months. I added these 3 months to the year for iTALK to get the combined financials for 2015. This is a rough estimate because it uses the nine months for iTALK ending in May so part of the activity occurred in the prior year which will need to be redone due to the change in year end. I may work through this again tomorrow and try to exclude the activity from Sept to Dec 2014 for iTALK and see if it gives diff numbers.
I removed the bad debt from UMS for the final quarter because I think they were trying to write everything off before year end. I also removed 180k from expenses due to the comment that monthly exp would decr by 60k per month for UMS.
The end result is there is still a loss for 2015. I did this because we need to prepare for the results that will appear on the 2015 report. It will only included 3 months of UMS so revenues will still be low.
We also have until Mid-May before we will see the first quarter report for iTALK/UMS which ends March 31. I think we may see profits in 2016 but not until the second quarter ending in June which we won't see until mid-August. This is my last post for today. I had a spreadsheet in Excel showing how I came up with the numbers but I couldn't add the image because I couldn't find it in settings. I hope the numbers below don't get messed up when I post. This is all just a guess based on adding 3 months of UMS to 12 months of iTALK. I really don't know how they are going to combine them for 2015.
Here's those numbers...
REVENUES
Sales 4,701,099
Cost of Sales 3,690,122
Gross Profit/Loss 1,010,977
OPERATING EXPENSES
SGA 1,373,344
Depr and Amort 153,253
Total Exp 1,526,597
Loss from Ops (515,620)
Other Income(exp)
Gain(loss) on change in fair val 37,619
Impairment of Assets (42,827)
Interest Exp {205,161)
Tot Other Expense (210,369)
Net Income (Loss) (725,989)
I took the first 3 quarters of italk and added an addition 3 months to make a year.
Then I took the first 6 months of 2015 for UMS and divided by 2 in order to give us 3 months. I added these 3 months to the year for iTALK to get the combined financials for 2015. This is a rough estimate because it uses the nine months for iTALK ending in May so part of the activity occurred in the prior year which will need to be redone due to the change in year end. I may work through this again tomorrow and try to exclude the activity from Sept to Dec 2014 for iTALK and see if it gives diff numbers.
I removed the bad debt from UMS for the final quarter because I think they were trying to write everything off before year end. I also removed 180k from expenses due to the comment that monthly exp would decr by 60k per month for UMS.
The end result is there is still a loss for 2015. I did this because we need to prepare for the results that will appear on the 2015 report. It will only included 3 months of UMS so revenues will still be low.
We also have until Mid-May before we will see the first quarter report for iTALK/UMS which ends March 31. I think we may see profits in 2016 but not until the second quarter ending in June which we won't see until mid-August. This is my last post for today. I had a spreadsheet in Excel showing how I came up with the numbers but I couldn't add the image because I couldn't find it in settings. I hope the numbers below don't get messed up when I post. This is all just a guess based on adding 3 months of UMS to 12 months of iTALK. I really don't know how they are going to combine them for 2015.
Here's those numbers...
REVENUES
Sales 4,701,099
Cost of Sales 3,690,122
Gross Profit/Loss 1,010,977
OPERATING EXPENSES
SGA 1,373,344
Depr and Amort 153,253
Total Exp 1,526,597
Loss from Ops (515,620)
Other Income(exp)
Gain(loss) on change in fair val 37,619
Impairment of Assets (42,827)
Interest Exp {205,161)
Tot Other Expense (210,369)
Net Income (Loss) (725,989)
(0)
(1)Scroll down for more posts ▼
