RE: Huge losses reported..."Net loss was $467,995 and $894,304 for the three and six month periods ended June 30, 2010 as compared to net income of $36,679 and net loss of $199,800 for the same periods in 2009."
Ouch! And the worst part of the story is...
"As previously reported, the successful installation of the early implementation sites for the United Kingdom project was completed in early 2010. We anticipate that the national rollout in the United Kingdom will commence in the fourth quarter of 2010."
Looks like there will be no additional revenues from the UK until Q4. Clearly, they have encountered some significant problems with the roll-out. And still no news about the new business that David was talking about at the AGM.
Jay may have some explaining to do to his clients! Think I'll stay on the sidelines for the next while... maybe take another look early in 2011.
GLTA
-K