The following discussion and analysis of our financial condition and results of
our operations should be read in conjunction with our financial statements and
related notes appearing elsewhere in this report. This discussion and analysis
contains forward-looking statements that involve risks, uncertainties and
assumptions. The actual results may differ materially from those anticipated in
these forward-looking statements. The following discussion and analysis should
be read in conjunction with the condensed consolidated financial statements and
related notes included in this report and those in our Form 10-K for the year
ended
OVERVIEW
RESULTS OF OPERATIONS
Comparison of the Three Months Ended
Revenues
We are currently engaged in a technology development business and have exited
natural resources. Revenues decreased from
Operating Expenses
Operating expenses decreased
Comparison of the Six Months Ended
Revenues
We are currently engaged in a technology development business and have exited
natural resources. Revenues decreased from
Operating Expenses
Operating expenses decreased
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Liquidity and Capital Resources
As of
Net cash used in operating activities decreased
Net cash provided by financing activities decreased by
We believe that our current financial resources are not sufficient to meet our working capital requirements over the next year. Additional funding will be necessary in order to expand portfolio operations and to reach our goals. Currently, the Company does not have any commitments or assurances for additional capital nor can the Company provide assurance that such financing will be available to it on favorable terms, or at all. If, after utilizing the existing sources of capital available to the Company, further capital needs are identified and the Company is not successful in obtaining the financing, it may be forced to curtail its existing or planned future operations. In addition, if necessary, we will decrease expenses and redirect our efforts towards a sale of one of more of our assets should funding become inadequate.
Our short-term prospects are promising given our success to date in securing the two portfolio companies, Noot and Monitr. We believe we will experience significant operational and financial growth from these and other portfolio companies during the next 12 months. However, we need significant capital to implement our plan.
Off Balance Sheet Arrangements
We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.
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