Selected Highlights:
-- Second quarter revenue up 65% to $530,000 from $320,600
-- Highest revenue quarter since inception
-- Six-month revenue up 52% to $1,001,300 from $661,000
-- Gross margin increases in both second quarter and six-month period
-- USVerified™ solutions revenue up 63% in second quarter
-- Hardware sales up 57% in second quarter
-- CattleNetwork.com and CattleStore.com combine for 72% increase in Q2
Integrated Management Information, Inc. (IMI Global) (
Integrated Management Information, Inc.
Condensed Statements of Operations
(Unaudited)
Three months ended Six months ended
June 30, June 30,
2007 2006 2007 2006
----------- ---------- ----------- ----------
Revenues $ 529,952 $ 320,568 $ 1,001,267 $ 661,028
Cost of sales 215,046 151,715 413,761 303,222
----------- ---------- ----------- ----------
Gross profit 314,906 168,853 587,506 357,806
Selling, general and
administrative expenses 517,808 480,974 1,075,660 1,067,712
----------- ---------- ----------- ----------
Loss from operations (202,902) (312,121) (488,154) (709,906)
Other income (expense):
Interest income 1,085 3,026 2,779 5,277
Interest expense (7,740) (5,719) (14,863) (11,567)
----------- ---------- ----------- ----------
Net other expense (6,655) (2,693) (12,084) (6,290)
----------- ---------- ----------- ----------
Loss before income taxes (209,557) (314,814) (500,238) (716,196)
Income taxes - - - -
----------- ---------- ----------- ----------
Net loss $ (209,557) $ (314,814) $ (500,238) $ (716,196)
=========== ========== =========== ==========
Loss per share $ (0.01) $ (0.02) $ (0.03) $ (0.04)
=========== ========== =========== ==========
Average shares
outstanding 19,328,839 17,867,515 19,189,950 19,751,890
=========== ========== =========== ==========
Integrated Management Information, Inc.
Condensed Balance Sheets
June 30, December 31,
2007 2006
(Unaudited)
------------ -------------
ASSETS
Current Assets:
Cash and cash equivalents $ 86,291 $ 230,539
Accounts receivable, net 139,349 178,159
Inventory 22,244 14,185
Prepaid expenses 26,389 33,435
------------ -------------
Total current assets 274,273 456,318
Restricted cash:
Cash restricted for payment of line of credit 50,000 50,000
Property and equipment:
Equipment and furniture 129,654 115,409
Accumulated depreciation (89,602) (83,792)
------------ -------------
Property and equipment, net 40,052 31,617
Other assets:
Intangible assets, net 36,513 46,633
Goodwill 418,208 418,208
------------ -------------
Total other assets 454,721 464,841
------------ -------------
Total assets $ 819,046 $ 1,002,776
============ =============
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Notes payable $ 156,622 $ 156,622
Accounts payable 210,875 206,466
Accrued expenses 14,633 8,287
Deferred revenues 31,358 10,820
------------ -------------
Total current liabilities 413,488 382,195
Notes payable 350,000 350,000
Stockholders' equity:
Common stock 27,579 27,024
Additional paid-in capital 4,600,231 4,315,571
Treasury stock (1,485,000) (1,485,000)
Retained (deficit) (3,087,252) (2,587,014)
------------ -------------
Total shareholders' equity 55,558 270,581
------------ -------------
Total liabilities and shareholders' equity $ 819,046 $ 1,002,776
============ =============
Contact Information: Company Contacts: John Saunders Chief Executive Officer 303-895-3002 Jay Pfeiffer Pfeiffer High Investor Relations, Inc. 303-393-7044