COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2011

Commitment and Contingencies

COMMITMENTS AND CONTINGENCIES

NOTE 9:   COMMITMENTS AND CONTINGENCIES

Leases

The Company currently maintains its corporate office at 3651 Lindell Road, Suite D#146, Las Vegas, Nevada 89103 on a month-to-month basis.  Our chief executive officer is providing the space at minimal cost.  In addition, we have maintained operations offices in Santa Monica, California, one on a month-to-month basis, and another under a lease with the term ending in April 2012 which we expect to extend, with the aggregate annual cost of $53,117 and $30,113 in 2011 and 2010, respectively.

The Company maintains offices on a month-to-month basis for its portfolio companies at 137 Bay Street, Santa Monica, California.  These costs are classified as advances to portfolio companies.

Los Angeles Syndicate of Technology, Inc.
Financial Highlights
Five Years Ended December 31, 2011, 2010, 2009, 2008, and 2007
	2011	2010	2009	2008	2007
PER SHARE INFORMATION		(Restated)
Net (liability) value, beginning of period	$                      0.49	$               (0.14)	$                   (0.07)	$                  0.24	$                         1.07
Net (increase) decrease from operations	(0.01)	(0.02)	(0.28)	(0.20)	0.17
Net change in realized gains (losses) and unrealized appreciation
(depreciation) of investments	0.24	1.88	(0.00)	(0.10)	(0.79)
Net (increase) decrease in deferred liabilities (1)	0.22	-	-	-	-
Net increase (decrease) from stock transactions (2)	0.04	(1.22)	0.21	(0.00)	(0.21)
Net asset (liability) value, end of period	$                      0.98	$                 0.49	$                   (0.14)	$                 (0.07)	$                         0.24
Per share market value:
Beginning of period	$                      2.50	$                 5.00	$                   22.00	$                  8.50	$                       80.00
End of period	$                      2.25	$                 2.50	$                     5.00	$                22.00	$                         8.50
Investment return, based on change in market price from beginning to end of period	-10.0%	(50.0%)	(77.3%)	158.8%	(89.4%)
RATIOS/SUPPLEMENTAL DATA
Net assets (liabilities), end of period	$           11,562,927	$        5,829,470	$             (177,115)	$             (54,047)	$                   161,593
Average net assets (liabilities)	10,840,147	2,074,559	(117,244)	(41,665)	268,674
Ratio of expenses to average net assets (liabilities)	2.0%	7.0%	(306.9%)	(371.0%)	65.0%
Ratio of net increase (decrease) in net assets
(liabilities) from  operations to average net assets (liabilities)	48.4%	278.6%	295.1%	532.0%	(133.0%)
Weighted average shares outstanding during period	11,676,968	3,114,113	25,559	15,968	12,595
Number of shares outstanding at end of period	11,791,899	11,889,363	25,703	16,963	14,963
(1) From incorporation through December 31, 2010, the Company was taxed as a corporation under Subchapter C of the Internal Revenue Code of 1986, (the “Code”). Effective January 1, 2011, the Company has expressed the intention to elect to be treated for tax purposes as a regulated investment company, or RIC, under the Code (see Note 7).
(2) Includes the effect of using weighted average shares outstanding during the period for components of net asset (liability) and using actual shares outstanding at the end of the period for net asset (liability) at the end of the period.
See accompanying notes to financial statements.