REVENUES Current Current Y-T-D Y-T-D Prior
(QTR + Y-T-D) Amount Percent Amount Percent Yr %
---------------------- ----------------------------------------------------
TOTAL NET SALES 172,267.85 100.00 520,156.23 100.00 100.00
COST OF SALES 30,630.02 17.78 124,701.69 23.97 14.06
----------------------------------------------------
GROSS PROFIT 141,637.83 82.22 395,454.54 76.03 85.94
OPERATING EXPENSES
-----------------------
Administrative Salaries 4,278.48 2.48 12,835.44 2.47 2.21
Salaries & Wages 22,417.76 13.01 69.706.20 13.40 6.57
Employee Benefits 3,837.50 2.23 5,222.14 1.00 0.23
Advertising: General 1,474.50 0.28 0.40
Advertising: Mail Order
Advertising: WWW
Accounting 537.50 0.31 1,871.25 0.36 0.06
Bank Service Charges 116.49 0.07 367.98 0.04 0.07
Books & Publications 1,179.94 0.68 2,315.12 0.45 0.12
We have always been engaged in extensive research and have used
Lumen Foods to fund our extracurricular spinoffs. Thus, books,
publications, lab fees & supplies, and research expenses
(see below) are all discretionary
and expendable for whoever purchases Lumen Foods. These
expenses are completely non-essential.
Commissions: Brokerages 5,593.61 3.25 17,829.20 3.43 2.58
Consulting Fees 200.00 0.04
Delivery 19.35 0.01 33.96 0.00 0.01
Dues/Subscrip'ns/Memberships 70.04 0.04 122.89 0.02 0.07-
Self-explanatory why we don't include it: it's discretionary
and non-essential.
Depreciation
Donation, Charitable 667.46 0.19
Self-explanatory.
Educational & Training 4.95 0.00
Entertainmt/Social Funct'n 588.38 0.34 1,795.26 0.35 0.09
Equipment/Vehicle Rental 7,084.85 4.11 14,565.95 2.80 1.24
We covered our explanation for these on the
Revised 7/31/04 books.
For the most part, self-explanatory. "Equipment / Vehicle Rental" is
almost entirely for vehicle use unrelated to the functioning
of the Lumen Foods' core business.
FDA / Kosher & Other Cert 4,500.00 2.61 12,586.00 2.42 0.72
Freight: Common Carrier 4,485.54 2.60 21,852.20 4.20 2.51
Freight: UPS 14,233.78 8.26 42,902.87 8.25 7.59
Gas, Oil & Tires 656.58 0.38 2,932.42 0.56 0.36
Groundskeeping 385.00 0.22 895.00 0.17 0.29
The "Gas, Oil & Tires" relates to Vehicles (above), so it's discretionary.
The "Groundskeeping" is discretionary because it not only relates to
maintaining the front of Lumen Foods, but our other real estate
holdings, which are unoccupied.
Insurance 2,025.41 1.18 6,821.97 1.31 1.09
Interest 4,125.94 2.40 6,667.35 1.28 6.13
Janitorial / Office Upkeep 0.14
Legal 8,276.57 4.80 24,911.47 4.79 3.73
Primarily unrelated to Lumen Foods business.
See explanation at "Legal Fees"
for 2004.
Maintenance, Building 159.00 0.09 2,474.97 0.48 0.04
Office / Computer Services 1,399.96 0.81 1,880.71 0.36 0.15
Office / Computer Supplies 1,552.92 0.90 3,696.06 0.71 0.30
Outside Services: General 3,286.90 1.91 10,759.32 2.07 2.21
Outside Services: Web Site 1,417.98 0.82 3,832.32 0.74 1.95
Payroll Taxes 10,396.53 6.04 22,869.46 4.40 2.95
Postage 922.78 0.54 2,853.68 0.55 0.46
Pest Control 100.00 0.06 600.00 0.12 0.14
Printing & Graphics 2,009.42 1.17 3,225.55 0.62 1.08
Repairs 2,012.17 1.17 8,170.57 1.57 0.44
Research Expense 844.80 0.49 5,083.92 0.98 1.78
Security 842.25 0.49 3,051.75 0.59 0.42
Shop Supplies 6,124.14 3.56 9,953.74 1.91 0.27
Taxes & Licenses 1.38
Taxes: Ad Valorem 4,131.27 1.19 1.86
Travel 334.47 0.19 334.47 0.06
Telecom: Basic 2,181.74 1.27 8,782.22 1.69 1.14
Telecom: Internet 271.62 0.16 769.14 0.15 0.12
Telecom: Cellular 605.83 0.35 2,357.14 0.45 0.36
Tenant Expenses 433.74 0.25 997.23 0.19 0.13
Utilities 6,493.59 3.77 21,088.25 4.05 3.06
Waste Disposal 852.19 0.49 2,835.29 0.55 0.37
Worker's Compensation 2,572.70 0.49 0.11
---------- ----- ---------- ------ -----
OPERATING EXPENSES 126,654.75 73.52 371,125.98 71.35 56.78
OPERATING PROFIT 14,983.08 8.70 24,328.56 4.68 29.16
OTHER INCOME
Gulf Coast Payment 3,000.00 1.74 9,000.00 1.73 1.71
Le Panier Income 3,029.94 1.76 10,145.56 1.95 1.01
Damage Claims Paid 5,663.19 3.29 5,692.34 1.09
Rental Income 2,250.00 1.31 8,270.00 1.59 0.88
State Dept of Rev Ref 3,928.82 2.28 3,928.82 0.76
Worker's Comp Refund 3,428.89 1.99 3,428.89 0.66
---------- ----- ---------- ----- -----
TOTAL OTHER INCOME 21,300.84 12.36 40,465.61 7.78 3.61
OTHER EXPENSE 0.00 0.00
Loss: On Forfeiture 105.96
---------- -----
TOTAL OTHER EXPENSE
---------- ----- ---------- ----- -----
NET PROFIT (or loss) 36,283.92 21.06 64,794.17 12.46 73.19-
========= =========
Unlike
the 2004, and
2005 books there are items
under the "Other Income" and "Other Expense" section which are
related to the core business and are segregated below.
Note that since we have now included the purchase of the
real estate (for $145,000) as part of the selling price,
we have changed this Revised Income Statement in that
we are no longer separating out "Maintenance, Building"
and "Tenant, Expenses" on the expense side, and,
correspondingly, we are adding back in "Rental Income"
from the "Other Income" section.
Below we have summarized the revised items
on which we comment above to show the financial results for this period:
Period ---> Qtr. Ending 4/30/06 9 Months Ending 4/30/06
---------------------------------------------------------------------------
Books & Publications 1,179.94 0.68 2,315.12 0.45 0.12
Dues/Subscrip'ns/Memberships 70.04 0.04 122.89 0.02 0.07-
Donation, Charitable 667.46 0.19
Entertainmt/Social Func'n 588.38 0.34 1,795.26 0.35 0.09
Equipment/Vehicle Rental 7,084.85 4.11 14,565.95 2.80 1.24
Gas, Oil & Tires 656.58 0.38 2,932.42 0.56 0.36
Groundskeeping 385.00 0.22 895.00 0.17 0.29
Interest 4,125.94 2.40 6,667.35 1.28 6.13
Legal 8,276.57 4.80 24,911.47 4.79 3.73
Outside Services: General 3,286.90 1.91 10,759.32 2.07 2.21
Outside Services: Web Site 1,417.98 0.82 3,832.32 0.74 1.95
Research Expense 844.80 0.49 5,083.92 0.98 1.78
------------------------ ---------- ----- ---------- ------ -----
Net Expense Reductions
ORIGINALLY STATED
OPERATING EXPENSES 126,654.75 73.52 371,125.98 71.35 56.78
REVISED OP EXPENSES: Obtained by adding the red figures above:
27,916.98 74,548.48
REVISED TOTAL
OPERATING EXPENSES: Obtained by subtracting "revised op exp" from the
originally stated Total Operating Expenses:
98,737.77 296,577.50
------------ ------------
ORIGINALLY STATED
OPERATING PROFIT 14,983.08 8.70 24,328.56 4.68 29.16
REVISION TO
ORIGINALLY STATED
OPERATING PROFIT: 42,900.06 98,877.04
========= =========
OTHER INCOME
Gulf Coast Payment 3,000.00 1.74 9,000.00 1.73 1.71
Le Panier Income 3,029.94 1.76 10,145.56 1.95 1.01
Damage Claims Paid 5,663.19 3.29 5,692.34 1.09
Rental Income 2,250.00 1.31 8,270.00 1.59 0.88
State Dept of Rev Ref 3,928.82 2.28 3,928.82 0.76
Worker's Comp Refund 3,428.89 1.99 3,428.89 0.66
---------- ----- ---------- ----- -----
TOTAL OTHER INCOME 21,300.84 12.36 40,465.61 7.78 3.61
NET EFFECT BY ELIMINATING "GULF COAST" AND "LE PANIER" INCOME
WHICH ARE UNRELATED TO LUMEN FOODS CORE BUSINESS. (There were
no "Other Expenses" in this quarter.)
15,270.90 21,320.05
---------- ----- ---------- ----- -----
ORIGINALLY STATED
NET PROFIT (or loss) 36,283.92 21.06 64,794.17 12.46 73.19-
========= =========
REVISED NET PROFIT
FOR QTR / YEAR ---> 58,170.96 120,197.09
========= ==========
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