STOA From yesterdays 10K This is an honest signa
Post# of 17882
STOA From yesterdays 10K This is an honest signal that they are investing in the future.
Financial Results
Service Revenues were $959,409 and $0 for the three months ended June 30, 2012 and 2011, respectively, and $1,771,939 and $0 for the six months ended June 30, 2012 and 2011, respectively. Service Revenues were the result of increased revenues generated from hosting e-commerce solutions for its current customers.
Operating expenses were $279,968 and $219,307 for the three months ended June 30, 2012 and 2011, respectively, and $750,844 and $375,218 for the six months ended June 30, 2012 and 2011, respectively. [b]The increase was due to the development and hosting of e-commerce solutions for its customers which were performed by its in-house project management team and an outsourced development team.
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Net loss was $88,604 and $224,307 for the three months ended June 30, 2012 and 2011, respectively, and $335,050 and $390,992 for the six months ended June 30, 2012 and 2011, respectively. The decrease was due to recognizing revenue from its five customers.
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