-- Third quarter revenue up 48% to $618,100 from $418,800
-- Highest revenue quarter in Company's history
-- Nine-month revenue up 50% to $1,619,400 from $1,079,800
-- Company reduces expense base in quarter, YTD periods
-- Gross margin increases in both third quarter and nine-month period
-- USVerified™ solutions revenue up 54% in third quarter and YTD
-- Hardware sales up 21% in third quarter, 19% YTD
-- CattleNetwork.com and CattleStore.com combine for 65% increase in Q2,
59% YTD
Integrated Management Information, Inc. (IMI Global) (
Integrated Management Information, Inc.
Condensed Statements of Operations
(Unaudited)
Three months ended Nine months ended
September 30, September 30,
2007 2006 2007 2006
----------- ----------- ----------- -----------
Revenues $ 618,084 $ 418,805 $ 1,619,351 $ 1,079,833
Cost of sales 289,637 245,517 703,398 548,739
----------- ----------- ----------- -----------
Gross profit 328,447 173,288 915,953 531,094
Selling, general and
administrative
expenses 510,619 569,572 1,586,279 1,637,284
----------- ----------- ----------- -----------
Loss from operations (182,172) (396,284) (670,326) (1,106,190)
Other income (expense):
Interest income 3,335 930 6,114 6,207
Interest expense (9,087) (5,690) (23,950) (17,257)
----------- ----------- ----------- -----------
Net other expense (5,752) (4,760) (17,836) (11,050)
----------- ----------- ----------- -----------
Loss before income
taxes (187,924) (401,044) (688,162) (1,117,240)
Income taxes - - - -
----------- ----------- ----------- -----------
Net loss $ (187,924) $ (401,044) $ (688,162) $(1,117,240)
=========== =========== =========== ===========
Loss per share $ (0.01) $ (0.02) $ (0.04) $ (0.06)
=========== =========== =========== ===========
Average shares
outstanding 19,662,172 17,867,515 19,347,357 19,123,765
=========== =========== =========== ===========
Integrated Management Information, Inc.
Condensed Balance Sheets
September 30, December 31,
2007 2006
(Unaudited)
----------- -----------
ASSETS
Current Assets:
Cash and cash equivalents $ 223,204 $ 230,539
Accounts receivable, net 226,820 178,159
Inventory 20,628 14,185
Prepaid expenses 31,313 33,435
----------- -----------
Total current assets 501,965 456,318
Restricted cash:
Cash restricted for payment of
line of credit - 50,000
Property and equipment:
Equipment, furniture and software 141,303 115,409
Accumulated depreciation (93,553) (83,792)
----------- -----------
Property, equipment and software, net 47,750 31,617
Other assets:
Intangible assets, net 32,453 46,633
Goodwill 418,208 418,208
----------- -----------
Total other assets 450,661 464,841
----------- -----------
Total assets $ 1,000,376 $ 1,002,776
=========== ===========
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Notes payable $ 70,000 $ 156,622
Note payable to Cattlefeeding.com, Inc. 350,000 -
Accounts payable 273,191 206,466
Accrued expenses 18,856 8,287
Deferred revenues 18,962 10,820
----------- -----------
Total current liabilities 731,009 382,195
Note payable to Cattlefeeding.com, Inc. - 350,000
Note payable 300,000 -
Stockholders' equity (deficit):
Common stock 28,245 27,024
Additional paid-in capital 4,701,298 4,315,571
Treasury stock (1,485,000) (1,485,000)
Retained (deficit) (3,275,176) (2,587,014)
----------- -----------
Total shareholders' equity (30,633) 270,581
----------- -----------
Total liabilities and shareholders'
equity (deficit) $ 1,000,376 $ 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