Oct 10th 2008, 17:27 BAY Brittany Bay Resorts
by Bogart Beck
BAY - Brittany Bay Resort - September 2008 Financials - Posted 10/10/2008
BAY - Brittany Bay Resort - September 2008 Financials - Posted 10/10/2008
CEO's Report and Forward Guidance
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BAY Shareholders,
Nothing particularly unusual to report this month - our second full month of operation. I have not made any definative decisions regarding a replacement Board of Directors for the recently vacated positions. Shareholders can expect to have nominations for consideration by end-of-month.
The redevelopment effort on Brittany Bay Resort is progressing well;
The FutSL Stadium is complete,
The Outdoor Amphitheatre has been moved to the NorthWest Corner of the SIM,
and we have added a new tenant, HI-FIve Inc. - an audio-vidual developer.
SL Reports Advertising Bureau has recently re-located to Brittany Bay and can be found just inland on the southwestern quadrant.
This next month I anticipate having the Bo Beck Gallery back on-line displaying Original SL Artwork and RL photography. I also anticipate having our full-line clothing retail shop back online just in time for the holiday shopping season.
Until next month, Blessings!
On to the Financials...
Bogart Beck
BAY Chair & CEO
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(SL CapEx: BAY) Brittany Bay Resort - INCOME STATEMENT
PERIOD ENDING 30-Sep-08
Revenue
Consolidated Revenue - Products & Services - (Estate Mgmt, etc) $81,125.00
TOTAL SALES REVENUE $81,125.00
Cost of Sales (or Cost of Goods Sold) GOGS
Sales Commissions Paid on Products and Services $-
Sales Commissions Paid on Sale of Stock $1,509.18
Real Estate Tier Paid & Commissions Paid on Sale of Real Estate $-
(ALL) - Marketing & Advertising Expense (Barbary Group) $138.00
TOTAL COST OF SALES $1,647.18
Gross Profit (Loss) $79,477.82
Gross Margin (%) 97.97%
Operating Expenses
Research & Development (NONE) $-
General and Administrative (Mgmt & Admin Salaries) (NONE) $-
Non Recurring (ONE-TIME) (NONE) $-
Others / Miscellaneous (OFC Furniture, etc.) (NONE) $-
TOTAL OPERATING EXPENSES (NONE) $-
Operating Income or Loss $79,477.82
Operating Margin (%) 97.97%
Other Income from Continuing Operations
Other Income - (LAND SALES) (NONE) $-
Other Income - Dividends Earned (NONE) $-
Interest Earned on DEPOSITS or CD's (Short Term Invest.) (NONE) $-
Misc. Income - CEO Market Maker Commission Earned (N/A) $-
TOTAL OTHER INCOME (NONE) $-
Less Other Expenses (NET) $-
Earnings Before Interest, Taxes, Depreciation, Adjust. (EBITDA) $79,477.82
Less Interest Expense (NONE) $-
Less Income Tax Expense (NONE) $-
Less Asset Depreciation (NONE) $-
Less Other Adjustments (NONE) $-
NET INCOME FROM CONTINUING OPERATIONS $79,477.82
Other Non-recurring Events
Less Costs for Discontinued Operations (NONE) $-
Less Asset Impairment (Goodwill write-down) (NONE) $-
Less Effect Of Accounting Changes (NONE) $-
Less Other Items (NONE) $-
NET INCOME APPLICABLE TO SHAREHOLDERS (NIAS) $79,477.82
% of Revenue 97.97%
Less DISBURSEMENT to Preferred Stock Shareholders $-
% of NIAS 0.00%
Less DIVIDEND to Common Shareholders $-
% of NIAS 0.00%
RETAINED EARNINGS $79,477.82
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(SL CapEx: BAY) Brittany Bay Resort - BALANCE SHEET
PERIOD ENDING 30-Sep-08
Assets
Current Assets
Cash And Cash Equivalents (CapEx BTR Balance) $5,000.00
Short Term Invest. (211,566 /Sh SLCX and 3,731 /Sh BTX) (NPV) $67,815.50
Net Receivables (None) $-
Inventory (None) $-
Other Current Assets (None) $-
Total Current Assets $72,815.50
PLUS
Long Term Investments I (SLCX Invest. - 1.0 M /sh) (NPV L$0.25 /sh) $250,000.00
Long Term Investments II (BTX Invest. - 35.0K /sh) (NPV L$4.00 /sh) $140,000.00
Property Plant and Equipment (Hard Assets) (NONE) $-
Intangible Assets (NONE) $-
Goodwill (NONE) $-
Accumulated Amortization (NONE)$-
Total Assets $462,815.50
Liabilities
Current Liabilities
Accounts Payable - Sept Tier - BIG Estates - Due 10/14/2008 to LL $81,125.00
Current Portion Due of Long Term Debt (NONE) $-
Other Current Liabilities (NONE) $-
Total Current Liabilities $81,125.00
PLUS
Long Term Debt (NONE) $-
Other Liabilities (NONE) $-
Deferred Long Term Liability Charges (NONE) $-
Minority Interest (NONE) $-
Negative Goodwill (NONE) $-
Total Liabilities $81,125.00
Stockholders' Equity
Preferred Stock $-
Common Stock - (BAY - 1.5M Shares @ L$0.01 /share PAR Value) $15,000.00
Retained Earnings * (TAKEN DIRECTLY FROM INCOME STATEMENT) $79,477.82
Additional PAID-IN Capital $-
Treasury Stock - (BAY - 500,001 Shares @ L$0.01 /share PAR Value) $5,000.00
Other Stockholder Equity $-
Accumulated Surplus or (Deficit) $282,212.68
Total Stockholder Equity $381,690.50
TOTAL LIABILITIES & SHAREHOLDERS EQUITY $462,815.50
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CheckSum (Must equal ZERO) (IF not, your Balance Sheet has ERRORS) $0.00