Quartalszahlen zu SEAMLESS... - 500 Beiträge pro Seite

[agnesw]

werden heute erwartet

dicke brocken aus dem ASK in US gerissen

[agnesw]

Antwort auf Beitrag Nr.: 21.412.386 von agnesw am 03.05.06 09:29:57

214.937 zu 0,019

[Mario_Ahner]

Übe gerade Bilder einfügen und hab mir mal ´nen thread zu ´nem Schrottwert ausgesucht. Ich hoffe, es stört niemanden. SEAMLESSS ist ja eh tot.

[Fuerte100]

Antwort auf Beitrag Nr.: 23.270.859 von Mario_Ahner am 01.08.06 17:44:00

Nicht in der Lage ein "Bild" einzufügen, aber solche Behauptungen aufstellen
Man Man Man. Was treiben sich hier nur für Kandidaten rum

[chrisbo.kol]

Antwort auf Beitrag Nr.: 23.270.859 von Mario_Ahner am 01.08.06 17:44:00

mensch, junge pass blos auf!!
dabei haben sich schon einige die zunge abgebissen

[stamb]

Hmmmm ....

Ja die Qurtalszahlen ...

[418]

Antwort auf Beitrag Nr.: 23.287.967 von stamb am 02.08.06 19:57:53

Es spielt doch gar keine Rolle ob seamless kurzzeitig steigt oder fällt,ich habe mir vorgenommen dieses Investment 7 Jahre in meinem Depot zu lassen.

[Atmos]

Antwort auf Beitrag Nr.: 23.301.273 von 418 am 03.08.06 17:13:28

Das geht leider nicht, weil deine Bank es nächstes Jahr wertlos ausbucht.
A.

[Fuerte100]

Ach wieder so ein ganz Schlauer, der bis ins nächste Jahr schauen kann Man Man Man. Was seid Ihr nur für Kandidaten

[Charly_2]

Antwort auf Beitrag Nr.: 23.301.273 von 418 am 03.08.06 17:13:28

..ist 418 dein Kursziel

[Stephan0603]

[IFEX2005]

Antwort auf Beitrag Nr.: 21.412.386 von agnesw am 03.05.06 09:29:57

13-Oct-2006

Annual Report



ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS
The following discussion and analysis of the Company's financial condition and results of operations should be read with the consolidated financial statements and related notes included elsewhere in this Report.

When the words used in this Report, such as; "expects," "anticipates," "believes," "plans," "will" and similar expressions are intended to identify forward-looking statements. These are statements that relate to future periods and include, but are not limited to statements; as to statements regarding our critical accounting policies, adequacy of cash, expectations regarding net losses and cash flow, statements regarding growth and profitability, need for future financing, dependence on personnel, operating expenses, ability to respond to rapid technological change and statements regarding the issuance of common stock to the Company's executive officers. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, those discussed below, as well as risks related to our ability to develop and timely introduce products that address market demand, the impact of alternative technological advances and competitive products, market fluctuations, the Company's ability to obtain future financing, and the risks set forth below under "Factors That May Affect the Company's Results." These forward-looking statements speak only as of the date hereof. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

OVERVIEW

During the current fiscal year of June 2006, the Company, through its subsidiary Seamless Skyy-Fi, Inc., was installing wireless Internet access equipment at businesses allowing their patron's access to the Internet for a fee. At the time of this report Skyy-Fi, Inc had 30 Wi-Fi locations installed. Skyy-Fi began to develop its software program for Secure Internet Browsing that encrypts Wi-Fi transmissions based upon RSA's government certified 256 bit AES encryption. During the fiscal year the Companies subsidiary Seamless Peer 2 Peer, Inc. continued to develop its software program `Phenom" that encrypts Peer 2 Peer communications based upon RSA's government certified 256 bit AES encryption coupled with RSA's Public Key Infrastructure flexible telecom data and voice transport solutions. In January Seamless Internet acquired the patent rights to a pocket personal computer, and began a development program to make the pocket PC into a mobile communication and computer device. Seamless Internet named the device the S-XGen and is beginning manufacturing of the commercial S-XGen Ultra Mobile Personal Computing (UMPC) device.

ANALYSIS OF SELECTED FINANCIAL DATA

With the Company starting up a business it is important to note that the following discussion and analysis of the Companies financial condition and results of operations should be read with the consolidated financial statements and related notes included elsewhere in this Report.

The selected financial data for the years ended June 30, 2006, 2005, are derived from the audited financial statements of the Company and should be read in conjunction with the audited financial statements included herein. These are restated based upon the change in revenue recognition. See Note 2 of the footnotes to the financial statements titled "Change in Revenue Recognition". The change only impacted the stated "Revenues" and not the "Net income".


Consolidated Statements of
--------------------------
Operations Year End June 30, 2006 June 30, 2005
------------------- ------------- -------------
Revenues $ 38, 793 $ 2,113
Cost of revenues 115,070 35,346
Gross profit (loss) (76,277) (33,233)
Cost and expenses:
Selling, general and administration 624,273 694,607
Software development costs 1,795,369 0
Technology development cost 38,552 0
Financing Fees 345,000 0
Consulting 1,446,351 0
Interest 1,388,335 0
Legal 291,445 0
Judgments 0 555,596
Stock paid for compensation 0 375,957
Stock paid for services 0 1,766,021
Write down of intangible assets 0 450,625
Write down of investments 1,345,384 0
Bad Debt Expenses 229,265 0
Depreciation and amortization 12,344 77,088
------------- -------------
Total costs and expenses 7,516,318 3,919,894
------------- -------------
Net income (loss) from operations (7,592,595) (3,953,127)
Adjustment of tax assessment 460,957 0
Interest 111,093 0
Other income 652,630 38,928
Income (loss) before income taxes (6,367,915) (3,914,199)
Income taxes (benefit) (note 9) 0 0
------------- -------------
Net income (loss) $ (6,367,915) $ (3,914,199)
Net income (loss) per common shares $ (.05) $ (.23)
Weighted average number of common
shares outstanding 133,750,923 17,373,504




The following discussion should be read in conjunction with the financial statements of the Company and notes thereto contained elsewhere in this report.

RESULTS OF OPERATIONS

(a) COMPARISON OF YEAR TO YEAR

(1) FISCAL 2006 COMPARED TO FISCAL 2005

The Company's revenues for the twelve-month period ended June 30, 2006 of $38,793 is an increase of 1836% in revenue when compared with $2,113 revenues for the fiscal year ended June 30, 2005. The increase in revenue is from the deployed Wi-Fi systems, the other revenue is from the sale of unused equipment which was fully depreciated, a loan that was defaulted which was due to the fact that the debt to the Internal Revenue Service was revised due to the refilled statements for payroll.

The resulting loss for the twelve-month period ended June 30, 2006 of ($6,367,915) was a significant increase when compared to the losses of ($3,914,199) reported for the year ended June 30, 2005. One major contributor to the increase in the losses that have occurred was due to increase expenditures regarding the development of the Phenom Software and the cost to acquire and then produce the S-XGen during fiscal year ended June 30, 2006.

(b) COMPARISON BY SEGMENT

In accordance with SFAS No. 131, "Disclosure about Segments of an Enterprise and Related Information," management had determined that there were three reportable segments, such determination was based on the level at which executive management reviews the results of operations in order to make decisions regarding performance assessment and resource allocation.

Certain general expenses related to advertising and marketing, information systems, finance and administrative groups are not allocated to the operating segments and are included in "other" in the reconciliation of operating income reported below. The accounting policies of the segments are the same as those described in the summary of significant accounting policies (Note 1).


INFORMATION ON REPORTABLE SEGMENTS IS AS FOLLOWS:
-------------------------------------------------
FISCAL YEAR ENDED JUNE 30, 2006 JUNE 30, 2005
----------------- ------------- -------------
SEAMLESS SKYY-FI SALES $ 38,793 $ 2,113
OPERATING EXPENSES $ 115,070 $ 35,346
SEAMLESS PEER 2 PEER SALES $ 0 $ 0
OPERATING EXPENSES $ 2,128,765 $ 0
SEAMLESS INTERNET SALES $ 0 $ 0
OPERATING EXPENSES $ 146,042 $ 0
COST AND EXPENSES $ 2,351,084 $ 3,955,240
OTHER NET INCOME $ 1,224,680 $ 38,928
OTHER EXPENSES $ 5,241,511 $ 0
NET LOSS $(6,367,915) $(3,914,199)




(1) SEAMLESS SKYY-FI: The resultant loss for this segment for the fiscal year ended June 2006 was ($76,277) this was due to expenses of this start-up operation. The income increased to $38,793 as compared to $2,113 for the prior fiscal year ended 2005. Respective operating expenses also increased to $115,070 as compared to $35,346 for the prior fiscal year. The increased expenses are because several locations were changed and 24/7 tech support incorporated.
(2) SEAMLESS PEER 2 PEER SOFTWARE: This segment was just acquired in January 2005 and is still a start-up operation.
(3) SEAMLESS INTERNET PRODUCTS AND SERVICES: This segment started this fiscal year and it just acquired its product line which is a mini-computer in March 2006.
(4) OTHER: For the fiscal year ended June 2006 this segment received income of $1,113,587 credits for accounts income from the sale of fully depreciated equipment and the refilling of payroll tax reports for the prior operation, which reduced the company's liabilities and is incorporated in the dollar amount. The income for June 2005 of $38,928 is due to sale of used equipment that was fully depreciated. The losses of ($6,367,915) for the June 2006 fiscal year were due to the start up operations and development cost of the Companies product lines and services and increase operations cost. The losses for the prior fiscal year ended June 2005 of ($3,914,199) was due to the start up expenses combined with operational losses.

LIQUIDITY AND CAPITAL RESOURCES

Net cash used by operations activities of $3,113,123 for the twelve-month period ended June 30, 2006 increased by $ 2,412,784 compared to the net cash used in operational activities of $700,339 for the twelve-month period ended June 30, 2005. The increases in net cash were primarily from cash used expand its Skyy-Fi operation, develop its Peer 2 Peer software, maintain its Internet operations, develop its mini computer and support the Companies operations.

CRITICAL ACCOUNTING POLICIES

The Securities and Exchange Commission issued Financial Reporting Release No. 60, "Cautionary Advice Regarding Disclosure About Critical Accounting Policies," or FRR 60, suggesting that companies provide additional disclosure and commentary on their most critical accounting policies. The most critical accounting policies are the ones that are most important to the portrayal of a company's financial condition and operating results, and require management to make its most difficult and subjective judgments, often as a result of the need to make estimates of matters that are inherently uncertain. The Company believes that of the significant accounting policies used in the preparation of the consolidated financial statements (see Note B to the Financial Statements), the following are critical accounting policies, which may involve a higher degree of judgment, complexity and estimates. The methods, estimates and judgments The Company uses in applying these most critical accounting policies have a significant impact on the results reported in the Company's financial statements.

OFF BALANCE SHEET

The Company has not entered into any 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, result of operations, liquidity, capital expenditure, or capital resources, which would be considered material to investors.

USE OF ESTIMATES

The preparation of the consolidated financial statements are in conformity with United States generally accepted accounting principles require us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.

STOCK-BASED COMPENSATION ARRANGEMENTS

The Company issues shares of common stock to various individuals and entities for certain management, legal, consulting and marketing services. These issuances are valued at the fair market value of the service provided and the number of shares issued is determined, based upon the closing price of our common stock on the date of each respective transaction. These transactions are reflected as a component of general and administrative expenses in the accompanying statement of operations.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In December 2004, the Financial Accounting Standards Board (FASB) issued SFAS NO. 123 (R), "Share-Based Payment," which revises SFAS No. 123 SFAS No. 123 (R) requires all share-based payments to employees, including grants of employee stock options, to be recognized as compensation expenses upon based their fair value. Effective January 1, 2003, the Company adopted the fair value recognition provision of SFAS No. 123. We plan to adopt SFAS No. 123 (R) effective July 1, 2005, using the modified prospective method and do not expect any impact on our results of operations or financial position.

In December, the FASB issued SFAS No 153, Exchange of Nonmonetary Assets, an amendment of APB No. 29, Accounting for Nonmonetary Transactions exchanges of similar productive assets and replaces it withy a general exception for exchanges of nonmonetary assets that do not have commercial substance. A nonmonetary exchange has commercial substance if the future cash flows of the entity are expected to change significantly as a result of the exchange. The Company is required to adopt FAS 153, on a prospective basis, for nonmonetary exchanges beginning June 15, 2005 the adoption of FAS 153 did not have any impact on the Company's financial condition, results of operations and cash flows.

In December 2003, the Securities and Exchange Commission released Staff Accounting Bulletin No. 104, "Revenue Recognition" ("SAB 104"). SAB 104 clarifies existing guidance regarding revenue recognition. The Company's adoption of SAB 104 did not have an impact on its consolidated results of operations, financial position or cash flows.

INFLATION

The moderate rate of inflation over the past few years has had an insignificant impact on the Company's sales and results of operations during the period.

CAPITAL EXPENDITURES

There were no capital expenditures during the 2006 fiscal year.

NET OPERATING LOSS CARRY FORWARDS

No provision for income taxes has been recorded in the accompanying financial statements as a result of the Company's net operating losses. The Company has unused tax loss carry forwards of approximately $22,000,000 to offset future taxable income. Such carry forwards expire in the years beginning 2021.

The deferred tax asset recorded by the Company as a result of these tax loss carry forwards is approximately $7,000,000 as of June 30, 2006. The Company has reduced the deferred tax asset resulting from its tax loss carry forwards by a valuation allowance of an equal amount as the realization of the deferred tax asset is uncertain. The net change in the deferred tax asset and valuation allowance from July 1, 2005 to June 30, 2006 was an increase of approximately $2,000,000.

FORWARD LOOKING STATEMENTS

The foregoing Management's Discussion and Analysis of Financial Condition and Results of Operations contains "forward looking statements" within the meaning of Rule 175 under the Securities Act of 1933, as amended, and Rule 3b-6 under the Securities Act of 1934, as amended, including statements regarding, among other items, the Company's business strategies, continued growth in the Company's markets, projections, and anticipated trends in the Company's business and the industry in which it operates. The words "believe," "expect," "anticipate," "intends," "forecast," "project," and similar expressions identify forward-looking statements. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties, certain of which are beyond the Company's control. The Company cautions that these statements are further qualified by important factors that could cause actual results to differ materially from those in the forward looking statements, including, among others, the following: reduced or lack of increase in demand for the Company's products, competitive pricing pressures, changes in the market price of ingredients used in the Company's products and the level of expenses incurred in the Company's operations. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained herein will in fact transpire or prove to be accurate. The Company disclaims any intent or obligation to update "forward looking statements."