Attached files
| file | filename |
|---|---|
| 8-K - WIRELESS AGE COMMUNICATIONS INC | wlsaform8k-oct7_2010.htm |
| EX-99.1 - WIRELESS AGE COMMUNICATIONS INC | wlsafsexhibit991-oct7_2010.htm |
Exhibit 99.2
WIRELESS AGE COMMUNICATIONS, INC.
CONSOLIDATED BALANCE SHEET
December 31, 2009
(Unaudited)
(Stated in US Dollars)
|
2009
|
||||
|
ASSETS
|
||||
|
Current
|
||||
|
Marketable securities
|
$ | 373,482 | ||
|
Prepaid expenses
|
7,172 | |||
| 380,654 | ||||
|
Property and equipment
|
73,864 | |||
|
Due from related parties
|
2,791,492 | |||
| $ | 3,246,010 | |||
|
LIABILITIES
|
||||
|
Current
|
||||
|
Bank indebtedness
|
$ | 38,947 | ||
|
Accounts payable and accrued liabilities
|
451,147 | |||
|
Taxes payable
|
449,706 | |||
|
Accrued special provision
|
6,838,033 | |||
|
Due to related parties
|
262,483 | |||
| $ | 8,040,316 | |||
|
Commitments and contingencies
|
||||
|
Minority interest
|
- | |||
|
STOCKHOLDERS’ EQUITY (DEFICIENCY)
|
||||
|
Preferred stock, $0.001 par value
|
||||
|
10,000,000 shares authorized, (2009:nil issued and outstanding)
|
- | |||
|
Common stock, $0.001 par value
|
||||
|
100,000,000 shares authorized, 62,321,592 shares outstanding
|
62,322 | |||
|
Additional paid-in capital
|
16,074,044 | |||
|
Treasury stock
|
15,000 | |||
|
Accumulated deficit
|
(20,266,995 | ) | ||
|
Accumulated other comprehensive income
|
(678,677 | ) | ||
| (4,794,306 | ) | |||
| $ | 3,246,010 | |||
WIRELESS AGE COMMUNICATIONS, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
For the year ended December 31, 2009
(Unaudited)
(Stated in US Dollars)
|
2009
|
||||
|
Operating expenses
|
||||
|
Selling and administrative
|
$
|
929,460
|
||
|
Amortization
|
22,202
|
|||
|
Recovery of note receivable
|
(134,455)
|
|||
|
Write down of note receivable
|
207,690
|
|||
|
Write down of assets
|
87,837
|
|||
|
Loss from operations
|
(1,112,734)
|
|||
|
Other expenses (income)
|
||||
|
Interest income
|
(999,107)
|
|||
|
Foreign exchange losses (gains)
|
(251,613)
|
|||
|
Gain on disposition
|
(1,234,707)
|
|||
|
Loss on disposal of investment
|
344,965
|
|||
|
Total other expenses
|
(2,140,462)
|
|||
|
Earnings (loss) before income taxes
|
1,027,728
|
|||
|
Income taxes – deferred and current
|
-
|
|||
|
Earnings per share:
|
||||
|
Earnings per share– basic and diluted
|
$
|
0.017
|
||
|
Weighted average number of common shares outstanding:
|
||||
|
Basic and diluted
|
59,908,488
|
|||
|
COMPREHENSIVE INCOME (LOSS)
|
||||
|
Net income (loss)
|
$
|
1,027,728
|
||
|
Other comprehensive income (loss):
|
||||
|
Unrealized holding (loss) gain on marketable securities
|
(894,317)
|
|||
|
Foreign exchange translation gain (loss)
|
966,274
|
|||
|
Comprehensive income (loss)
|
$
|
1,099,685
|