YIPI: Here is the summary: The quarterly news sho
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Posted On: 10/29/2013 10:54:01 AM
YIPI: Here is the summary:
The quarterly news should come out tomorrow morning.
- Revenues for the three months ended August 31, 2013, is almost 3 times the same period ending August 31, 2012.
- The Company recently formed enterprise business division, which has been successful in cultivating new business through its
Enterprise Application Services Environment (EASE) platform.
- General and Administrative expenses for the three months ended August 31, 2013, were $277,699, compared to $953,961 for the same period ending August 31, 2012. (1/4 of what it was)
- Reduced payroll and contractor expenses significantly.
- Share based compensation was $0 for the three months ended August 31, 2013.
The net loss was $185,839 for the three months ended August 31,
2013, compared to $297,048 for the same period in the prior year.
- The Company had cash on hand of $35,263 and $178,662 in accounts
receivables.
- The Company had total liabilities of $1,995,187 and expects the majority of the liabilities will convert into common shares in the
current fiscal year.
- Additionally, the Company has not borrowed any new funds from the Magna Group since November 2012, and the Company is hopeful that it will be able to extinguish that debt before the end of the Company’s next fiscal quarter.
The quarterly news should come out tomorrow morning.
- Revenues for the three months ended August 31, 2013, is almost 3 times the same period ending August 31, 2012.
- The Company recently formed enterprise business division, which has been successful in cultivating new business through its
Enterprise Application Services Environment (EASE) platform.
- General and Administrative expenses for the three months ended August 31, 2013, were $277,699, compared to $953,961 for the same period ending August 31, 2012. (1/4 of what it was)
- Reduced payroll and contractor expenses significantly.
- Share based compensation was $0 for the three months ended August 31, 2013.
The net loss was $185,839 for the three months ended August 31,
2013, compared to $297,048 for the same period in the prior year.
- The Company had cash on hand of $35,263 and $178,662 in accounts
receivables.
- The Company had total liabilities of $1,995,187 and expects the majority of the liabilities will convert into common shares in the
current fiscal year.
- Additionally, the Company has not borrowed any new funds from the Magna Group since November 2012, and the Company is hopeful that it will be able to extinguish that debt before the end of the Company’s next fiscal quarter.
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