Net cash used in operating activities at the end of the first quarter of fiscal year ended June 30, 2006, decreased to ($3,192,320) due to the use of stock for services which is an increase compared to the results for the same period ended 2004 of ($165,526). The Company is seeking alternative sources of capital so the Company can expand its new Internet operations of establishing wireless Internet locations commonly referred to as Wi-Fi hotspots and to allow the deployment of it Phenom Software program. Prior to end of the previous fiscal year end of June 30, 2005 the Company was being funded by two sources; Windsor Professional Plaza LLC and Blue Bear Funding, both Companies have ceased their funding of the Company and the Company is currently seeking alternative sources to fund Companies current operations.
Net Loss; for the three months ended September 30, 2005 was $1,907,077 as compared to $1,212,602 for the same period in 2004 an increase of $694,475 or approximately 157%.http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=3785307 |