Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - WIRELESS AGE COMMUNICATIONS INC | v234029_8k.htm |
| EX-99.1 - EXHIBIT 99.1 - WIRELESS AGE COMMUNICATIONS INC | v234029_ex99-1.htm |
WIRELESS AGE COMMUNICATIONS, INC.
CONSOLIDATED BALANCE SHEET
(Unaudited)
(Stated in US Dollars)
|
March 31,
|
December 31,
|
|||||||
|
ASSETS
|
2011
|
2010
|
||||||
|
Current
|
||||||||
|
Marketable securities
|
$ | 853,009 | $ | 831,520 | ||||
|
Receivables
|
308,487 | - | ||||||
|
Inventory
|
6,043 | - | ||||||
|
Prepaid expenses
|
48,231 | 37,789 | ||||||
|
Investment -deposit
|
- | 49,760 | ||||||
|
Total assets
|
1,215,770 | 919,069 | ||||||
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Property and equipment
|
83,343 | 43,031 | ||||||
|
Due from related parties
|
2,821,712 | 2,472,751 | ||||||
|
Goodwill
|
25,872 | - | ||||||
| $ | 4,146,697 | $ | 3,434,851 | |||||
|
LIABILITIES
|
||||||||
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Current
|
||||||||
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Bank indebtedness
|
$ | 94,293 | $ | 52,321 | ||||
|
Accounts payable and accrued liabilities
|
1,016,500 | 837,768 | ||||||
|
Taxes payable
|
45,019 | 54,990 | ||||||
|
Accrued special provision
|
6,632,778 | 6,714,880 | ||||||
|
Due to related parties
|
1,259,045 | 797,034 | ||||||
|
Unissued share liability
|
152,050 | - | ||||||
| 9,199,685 | 8,456,993 | |||||||
|
Commitments and contingencies
|
- | - | ||||||
|
Minority interest
|
- | - | ||||||
|
STOCKHOLDERS' EQUITY (DEFICIENCY)
|
||||||||
|
Preferred stock, $0.001 par value: 10,000,000 shares authorized
|
||||||||
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March 31, 2011: nil issued and outstanding
|
- | - | ||||||
|
Common stock, $0.001 par value: 100,000,000 shares authorized
|
||||||||
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March 31, 2011: 65,766,592 shares issued and outstanding
|
65,767 | 65,767 | ||||||
|
Additional paid-in capital
|
16,245,349 | 16,245,349 | ||||||
|
Treasury stock
|
24,352 | 24,352 | ||||||
|
Accumulated deficit
|
(21,581,085 | ) | (21,568,608 | ) | ||||
|
Accumulated other comprehensive income
|
192,629 | 210,998 | ||||||
| (5,052,988 | ) | (5,022,142 | ) | |||||
| $ | 4,146,697 | $ | 3,434,851 | |||||
WIRELESS AGE COMMUNICATIONS, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
For the three months ended March 31, 2011
(Unaudited)
(Stated in US Dollars)
|
Revenue
|
$ | 702,920 | ||
|
Cost of goods
|
430,117 | |||
|
Gross profit
|
272,803 | |||
|
Operating expenses
|
||||
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Selling and administrative
|
677,877 | |||
|
Amortization
|
8,518 | |||
|
Total operating expense
|
686,395 | |||
|
Loss from operations
|
(413,592 | ) | ||
|
Other expenses (income)
|
||||
|
Interest expense
|
24,464 | |||
|
Foreign exchange (gain)
|
(314,449 | ) | ||
|
Total other expense (income)
|
(289,985 | ) | ||
|
(Loss) before income taxes
|
(123,607 | ) | ||
|
Income taxes - deffered and current
|
- | |||
|
Net (loss)
|
$ | (123,607 | ) | |
|
Earnings per share:
|
||||
|
Earnings per share - basic and diluted
|
$ | (0.002 | ) | |
|
Weighted average number of of common shares outstanding:
|
||||
|
Basic and diluted
|
65,766,592 |
Contact:
DC Consulting
407-792-3332
investorinfo@dcconsultingllc.com