LENCO MOBILE INC. - FORM 8-K - EX-99.1 - MONTHLY OPERATING REPORT

Attached files

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8-K - CURRENT REPORT ON FORM 8-K - LENCO MOBILE INC.	lenco_8k.htm

Exhibit 99.1

ARCHER USA INC.

BALANCE SHEET

As of

unaudited

	February 28, 2015			January 31, 2015			December 31, 2014			November 30, 2014			October 31, 2014
Assets
Current Assets
Cash and Cash Equivalents	$	2,236,441		$	2,466,025		$	2,503,751		$	2,691,823		$	334,759
Accounts Receivable, Net		442,854			452,091			443,737			510,796			285,498
Prepaid Expenses		58,432			61,396			64,359			58,435			58,491
Intercompany Receivable		1,200,070			1,200,069			1,200,070			1,100,070			110,070
Other Current Assets		11,653			11,653			11,653			11,653			18,955
Total Current Assets		3,949,450			4,191,235			4,223,570			4,372,777			1,797,773

Fixed Assets, Net
Fixed Assets		82,652			82,652			82,652			82,652			82,652
Accumulated Depreciation		82,652			(82,652	)		(82,652	)		(82,652	)		(82,652	)
Total Fixed Assets, Net		0			–			–			–			–

Intangible Assets, Net
Intangible Assets		2,128,199			2,128,199			2,128,199			2,128,199			5,004,100
Amortization		2,128,199			(2,128,199	)		(2,171,043	)		(2,144,811	)		(2,118,579	)
Total Intangible Assets, Net		(0	)		–			(42,844	)		(16,612	)		2,885,521

Total Assets	$	3,949,450		$	4,191,235		$	4,180,726		$	4,356,165		$	4,683,294

Liabilities and Equity
Current Liabilities
Accounts Payable	$	3,138,468		$	3,195,378		$	3,236,810		$	3,236,965		$	3,068,651
Accrued Liabilities		3,402,382			3,398,218			3,363,131			3,155,748			3,053,228
Deferred Revenue		291,025			298,358			294,191			301,692			348,205
Intercompany Payable		21,177,172			21,177,172			21,020,297			21,020,297			21,020,297
Note Payable - Current Portion		776,614			767,015			757,416			747,817			738,218
Total Current Liabilities		28,785,661			28,836,141			28,671,846			28,462,519			28,228,600

Stockholders Equity
Additional Paid In Capital		19,413,194			19,413,194			19,413,194			19,413,194			19,413,194
Retained Earnings		(44,059,056	)		(43,861,471	)		(43,554,434	)		(42,960,391	)		(42,521,277	)
Net Income (Loss)		(190,349	)		(196,630	)		(349,880	)		(559,156	)		(437,223	)
Total Stockholders Equity		(24,836,212	)		(24,644,906	)		(24,491,120	)		(24,106,354	)		(23,545,306	)

Total Liabilities and Equity	$	3,949,450		$	4,191,235		$	4,180,726		$	4,356,165		$	4,683,294

ARCHER USA INC.

STATEMENT OF OPERATIONS

As of

unaudited

	February 28, 2015			January 31, 2015			December 31, 2014			November 30, 2014			October 31, 2014
Revenue
Revenue - Sales	$	1,302		$	1,098		$	873		$	835		$	168,185
Revenue - Services		12,082			17,333			24,270			418,236			159,405
Revenue - Other		10,305			312			221			16,702			88,495
Sales Returns and Discounts		3,149			(1,056	)		(197	)		(2,353	)		(4,138	)
Total Revenue		20,540			17,687			25,167			433,420			411,947

Cost of Revenue
Cost of Sales Revenue		8,608			(32,972	)		82,203			127,660			114,356
Cost of Goods Sold		2,000			2,000			(32,965	)		2,000			(35,452	)
Cost of Other Revenue		3,775			14,167			12,054			12,054			52,861
Total Cost of Revenue		14,383			(16,806	)		58,787			141,714			131,764

Gross Profit		6,157			34,493			(33,620	)		291,706			280,182

Operating Expenses
General and Administrative Expenses		92,033			108,199			132,299			197,194			257,294
Marketing and Advertising Expenses		858			2,660			2,711			5,198			7,947
Depreciation and Amortization Expenses		–			–			26,232			26,232			32,441
Payroll and Related Expenses		75,344			94,837			138,921			164,995			248,703
Utilities and Facilities		2,857			2,858			1,909			11,856			11,699
Operating and Maintenance Expenses		3,745			1,082			(4,384	)		449,933			122,876
Taxes and Insurance		11,397			11,407			11,397			19,196			21,566
Total Operating Expenses		186,233			221,042			309,084			874,604			702,526

Other Income (Expense)
Interest Income		17			20			21			13			0
Other Income		(690	)		(502	)		(610	)		(1,558	)		(3,434	)
Interest Expenses		(9,599	)		(9,599	)		(9,599	)		(9,599	)		(14,295	)
Other Expense		–			–			3,012			0			0
Total Other Income (Expense)		(10,272	)		(10,080	)		(7,176	)		(11,144	)		(17,729	)

Net Income (Loss)	$	(190,349	)	$	(196,630	)	$	(349,880	)	$	(594,042	)	$	(440,072	)

ARCHER USA INC.

STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS

As of

unaudited

	February 28, 2015
Beginning Cash	$	2,466,025
Transfer in from other estate bank accounts		341,875
Cash receipts deposited to this account		65,912
Financing or other loaned funds		0
Total cash available this month		2,873,813

Transfers out to other estate bank accounts		(341,875	)
Cash disbursements from this account		(295,497	)
Adjustments		0

Ending cash balance	$	2,236,441

LENCO MOBILE, INC.

BALANCE SHEET

As of

unaudited

	February 28, 2015			January 31, 2015			December 31, 2014			November 30, 2014			October 31, 2014
Assets
Current Assets
Intercompany Receivable	$	19,501,316		$	19,501,316		$	19,501,316		$	19,501,316		$	19,501,316
Total Current Assets		19,501,316			19,501,316			19,501,316			19,501,316			19,501,316

Fixed Assets, Net
Fixed Assets		93,568			93,568			93,568			93,568			93,568
Accumulated Depreciation		93,568			(93,568	)		(93,568	)		(93,568	)		(93,568	)
Total Fixed Assets, Net		(0	)		–			–			–			–

Intangible Assets, Net
Intangible Assets		21,735,747			21,735,747			21,735,747			21,735,747			21,735,747
Amortization		419,048			(419,048	)		(419,048	)		(419,048	)		(419,048	)
Total Intangible Assets, Net		21,316,699			21,316,699			21,316,699			21,316,699			21,316,699

Total Assets	$	40,818,015		$	40,818,015		$	40,818,015		$	40,818,015		$	40,818,015

Liabilities and Equity
Current Liabilities
Accounts Payable	$	4,031,681		$	4,031,681		$	4,031,681		$	4,031,681		$	4,031,681
Accrued Liabilities		(0	)		–			4,000			4,000			4,000
Deferred Revenue		6,738,146			6,585,484			6,416,466			6,249,431			6,087,784
Intercompany Payable		667,699			667,699			667,699			613,699			613,669
Note Payable - Current Portion		17,326,758			17,238,985			17,148,306			17,158,661			17,069,016
Total Current Liabilities		28,764,284			28,523,848			28,268,152			28,057,472			27,806,180

Stockholders Equity
Preferred Stock		348			348			348			348			348
Common Stock		(218,111	)		(218,111	)		(218,111	)		(218,111	)		(218,111	)
Additional Paid In Capital		95,687,559			95,565,726			95,443,893			95,322,060			95,200,227
Retained Earnings		(83,206,458	)		(82,845,284	)		(82,510,788	)		(82,132,275	)		(80,756,200	)
Net Income (Loss)		(209,607	)		(208,512	)		(165,478	)		(211,478	)		(1,214,428	)
Total Stockholders Equity		12,053,731			12,294,166			12,549,863			12,760,543			13,011,835

Total Liabilities and Equity	$	40,818,015		$	40,818,015		$	40,818,015		$	40,818,015		$	40,818,015

LENCO MOBILE, INC.

STATEMENT OF OPERATIONS

As of

unaudited

	February 28, 2015			January 31, 2015			December 31, 2014			November 30, 2014			October 31, 2014
Operating Expenses
Payroll and Related Expenses - Stock Option (non-cash)	$	121,833		$	121,833		$	121,833		$	121,833		$	121,833
Total Operating Expenses		121,833			121,833			121,833			121,833			121,833

Other Income (Expense)
Interest Expenses		(87,774	)		(90,679	)		(43,645	)		(89,645	)		(1,092,595	)
Other Income		0			4,000
Total Other Income (Expense)		(87,774	)		86,679			(43,645	)		(89,645	)		(1,092,595	)

Net Income (Loss)	$	(209,607	)	$	(208,512	)	$	(165,478	)	$	(211,478	)	$	(1,214,428	)

LENCO MOBILE INC. - FORM 8-K - EX-99.1 - MONTHLY OPERATING REPORT - March 27, 2015

Attached files

LENCO MOBILE INC. Reports