Cypress Semiconductor Corporation CY

RE: Cybersurf posts a small profit !!

[dogger2]

This is from the MD&A on SEDAR.Kind of a one of thing I guess.


Cybersurf Corp. Quarter in Review

Cybersurf’s quarter ended March 31, 2008 was highlighted by a net profit of $280,709 which is a significant increase from the ($214,988) loss for the previous year’s third quarter. This increase is due by realization of billing credits received from one of the Corporations’ telecommunication vendors for over billing in the past. The Corporation has made an adjustment to its overstated Accounts Payable by $426,290. The Corporations’ operations generated a net loss of ($145,581) however remained cash flow positive. The Company also continues to significantly reduce costs under general and administration, and to eliminate redundant telecom costs.