Integrated Management Information, Inc.
Condensed Statements of Operations
(Unaudited)
Three months ended
March 31,
2009 2008
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Revenues $ 477,324 $ 537,330
Costs of revenue 279,096 206,326
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Gross profit 198,228 331,004
Selling, general and administrative expenses 356,307 389,661
Gain on sale of equipment (4,000) -
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Loss from operations (154,079) (58,657)
Other expense (income):
Interest expense 8,162 8,513
Other income, net (263) (1,145)
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Loss before income taxes (161,978) (66,025)
Income taxes - -
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Loss from continuing operations (161,978) (66,025)
Income (loss) from discontinued operations - 5,475
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Net loss $ (161,978) $ (60,550)
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Loss per share from continuing operations:
Basic $ (0.01) $ -
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Diluted $ (0.01) $ -
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Loss per share from discontinued operations:
Basic $ - $ -
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Diluted $ - $ -
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Weighted average shares outstanding,
basic and diluted 20,869,626 19,993,088
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Integrated Management Information, Inc.
Condensed Balance Sheets
March 31, December 31,
2009 2008
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ASSETS
Current Assets:
Cash and cash equivalents $ 30,647 $ 154,044
Accounts receivable, net 415,539 458,715
Inventories 5,887 14,350
Prepaid expenses and other current assets 32,894 33,073
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Total current assets 484,967 660,182
Property and equipment, net 123,911 78,275
Intangible assets, net 983 1,093
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Total assets $ 609,861 $ 739,550
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LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable $ 188,837 $ 218,843
Accrued expenses and other current liabilities 70,030 53,438
Current portion of notes payable 8,002 -
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Total current liabilities 266,869 272,281
Notes payable and other long-term debt 327,318 300,000
Stockholders' equity:
Preferred stock - -
Common stock 20,929 20,929
Additional paid-in capital 3,370,528 3,359,380
Treasury stock (16,889) (16,124)
Accumulated deficit (3,358,894) (3,196,916)
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Total stockholders' equity (15,674) 167,269
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Total liabilities and stockholders' deficit $ 609,861 $ 739,550
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Contact Information: Company Contacts: John Saunders Chief Executive Officer 303-895-3002 Jay Pfeiffer Pfeiffer High Investor Relations, Inc. 303-393-7044