Seamless Wifi ist in keinen Geschäftsfeld profitabel.
...SEAMLESS SKYY-FI: The resultant loss for this segment for the fiscal year ended June 2007 was ($246,679). This loss was due to expenses of expanding its tech support and improving operations. The income increased to $41,229 as compared to $38,793 for the prior fiscal year ended 2006. Operating expenses also increased to $287,908 as compared to $115,070 for the prior fiscal year. The increased expenses are because several locations were changed and 24/7 tech support incorporated.
SEAMLESS PEER 2 PEER SOFTWARE: The resultant loss for this segment for the fiscal year ended June 2007 was ($87,542). This loss was due to reduced expenditures in the development of the PHENOM (R) Since the software program is not available to market, no revenue has been generated by the product for fiscal years ended 2007 and 2006, respectively. Operating expenses for 2007 also decreased to $87,542 as compared to $2,128,765 for the prior fiscal year. The decreased expenses are because PHENOM(R) has been in beta testing for most of this fiscal year with expectation of deployment in 2008.
SEAMLESS INTERNET PRODUCTS AND SERVICES: The resultant loss for this segment for the fiscal year ended June 2007 was ($551,437). This loss was due to expenses developing the S-XGen(TM) and improving the server array at our co-location. Income increased to $1,409 as compared to no income for the prior fiscal year ended 2006. Operating expenses also increased to $552,846 as compared to $146,042 for the prior fiscal year. The increased expenses are primarily due to the development of the S-XGen The S-XGen is a Mini-Mobile Personal Computing and Communications device which we expect will be available by the end of 2007 .
OTHER: For the fiscal year ended June 30, 2007, this segment received income credit $4,904,508 as payment in full for loans and interest totaling $4,904,508 as per our loan satisfaction agreement with Ayuda Funding, LLC. The agreement provided that we would transfer 1,000,000 shares of 1st Global Financial Corporation common stock and 500,000 shares of DLR .....
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