Oklahoma
|
333-150332
|
75-1518725
|
(State or Other Jurisdiction
of Incorporation)
|
(Commission
File Number)
|
(IRS Employer
Identification No.)
|
99.01
|
Press Release, dated April 30, 2013, issued by MacroSolve, Inc.
|
MACROSOLVE, INC. | ||
Date: April 30, 2013
|
By: /s/ KENDALL CARPENTER |
|
Kendall Carpenter
|
||
Chief Financial Officer
|
·
|
Net income increased $923,000 to $218,000 in 1Q13 from $(705,000) net loss in 1Q12;
|
·
|
Net income from continuing operations increased $225,000 to $218,000 in 1Q13 from $(7,000) in 1Q12; and
|
·
|
Operating expenses decreased 49% to $155,000 in 1Q13 from $303,000 in 1Q12.
|
MACROSOLVE, INC.
|
||||||||
BALANCE SHEETS
|
||||||||
For the Periods Ended:
|
3/31/2013
|
12/31/2012
|
||||||
ASSETS
|
||||||||
CURRENT ASSETS:
|
||||||||
Cash
|
$ | 702,632 | $ | 659,204 | ||||
Accounts receivable - trade
|
341,799 | 74,056 | ||||||
Prepaid expenses and other
|
11,604 | 519,330 | ||||||
Total current assets
|
1,056,035 | 1,252,590 | ||||||
PROPERTY AND EQUIPMENT, at cost:
|
4,237 | 21,651 | ||||||
Less - accumulated depreciation and amortization
|
(1,154 | ) | (19,462 | ) | ||||
Net property and equipment
|
3,083 | 2,189 | ||||||
OTHER ASSETS:
|
||||||||
Investment in DecisionPoint Systems, Inc.
|
730,433 | 579,875 | ||||||
Investment in MEDL Mobile Holdings, Inc.
|
60,272 | - | ||||||
Other assets
|
69,658 | 64,227 | ||||||
Total other assets
|
860,363 | 644,102 | ||||||
TOTAL ASSETS
|
$ | 1,919,481 | $ | 1,898,881 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
CURRENT LIABILITIES:
|
||||||||
Current maturities of long-term debt
|
$ | 90,000 | $ | 90,000 | ||||
Accounts payable - trade and accrued liabilities
|
180,379 | 84,062 | ||||||
Unearned income
|
- | 500,000 | ||||||
Total current liabilities
|
270,379 | 674,062 | ||||||
LONG-TERM DEBT, less current maturities
|
||||||||
Note Payable - Shareholders
|
549,648 | 541,752 | ||||||
Oklahoma Technology Commercialization Center
|
102,500 | 125,000 | ||||||
Convertible debentures
|
150,000 | 150,000 | ||||||
Total long-term debt, less current maturities
|
802,148 | 816,752 | ||||||
COMMITMENTS AND CONTINGENCIES
|
- | - | ||||||
STOCKHOLDERS' EQUITY:
|
||||||||
Common stock, $.01 par value; authorized 500,000,000 shares;
|
||||||||
issued and outstanding 184,663,869 and179,831,987 shares, at
|
||||||||
March 31, 2013 and December 31, 2012, respectively
|
1,846,639 | 1,798,320 | ||||||
Additional paid-in capital
|
13,241,670 | 13,230,111 | ||||||
Accumulated other comprehensive income
|
(9,295 | ) | (170,125 | ) | ||||
Accumulated deficit
|
(14,232,060 | ) | (14,450,239 | ) | ||||
Total stockholders' equity (deficit)
|
846,954 | 408,067 | ||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
|
$ | 1,919,481 | $ | 1,898,881 | ||||
MACROSOLVE, INC.
|
||||||||
STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
|
||||||||
For the Quarters Ended
|
||||||||
For the Quarters Ended March 31,
|
3/31/2013
|
3/31/2012
|
||||||
Net revenues
|
$ | 666,098 | $ | 699,232 | ||||
Cost of revenues
|
279,047 | 283,266 | ||||||
Gross profit
|
387,051 | 415,966 | ||||||
Selling, general and administrative expense
|
155,108 | 302,668 | ||||||
Income from operations
|
231,943 | 113,298 | ||||||
OTHER INCOME (EXPENSE):
|
||||||||
Interest income
|
212 | 8 | ||||||
Interest expense
|
12,551 | 84,144 | ||||||
Loss on sale of asset
|
436 | 761 | ||||||
Stock based compensation
|
1,019 | 34,625 | ||||||
Total other expense
|
13,794 | 119,522 | ||||||
INCOME (LOSS) FROM CONTINUNIG OPERATIONS BEFORE INCOME TAXES
|
218,149 | (6,224 | ) | |||||
INCOME TAXES
|
- | - | ||||||
NET INCOME (LOSS) FROM CONTINUING OPERATIONS
|
218,149 | (6,224 | ) | |||||
DISCONTINUED OPERATIONS (NOTE 11)
|
||||||||
Loss from operations of discontinued Illume Mobile operations
|
- | (698,806 | ) | |||||
NET INCOME (LOSS)
|
218,149 | (705,030 | ) | |||||
OTHER COMPREHENSIVE INCOME, net of tax
|
||||||||
Unrealized holding loss arising during the period
|
(9,295 | ) | - | |||||
COMPREHENSIVE INCOME
|
$ | 208,854 | $ | (705,030 | ) | |||
INCOME (LOSS) ALLOCABLE TO COMMON STOCKHOLDERS:
|
||||||||
Net income (loss)
|
$ | 218,149 | $ | (705,030 | ) | |||
Income (loss) allocable to common stockholders
|
$ | 218,149 | $ | (705,030 | ) | |||
Basic and diluted income (loss) per share
|
$ | 0.001 | $ | (0.004 | ) | |||