Nevada
|
03-7392107
|
|
(State
or other jurisdiction of incorporation or organization)
|
(I.R.S.
Employer Identification Number)
|
|
1300
PENNSYLVANIA AVE, SUITE 700 WASHINGTON DC
|
20004
|
|
(Address
of principal executive offices)
|
(Zip/Postal
Code)
|
ASSETS
|
||||
CURRENT
ASSETS
|
||||
Cash
and Cash Equivalents
|
$
|
44,060
|
||
Other
Current Assets
|
26,957
|
|||
Accounts
Receivable
|
105,729
|
|||
Loan
to Shareholder
|
16,213
|
|||
TOTAL
CURRENT ASSETS
|
192,959
|
|||
PROPERTY
AND EQUIPMENT
|
||||
Property
and Equipment
|
873,529
|
|||
Accumulated
Depreciation
|
(873,529
|
)
|
||
Net
Property and Equipment
|
-
|
|||
TOTAL
ASSETS
|
$
|
192,959
|
||
LIABILITIES
AND STOCKHOLDERS' EQUITY
|
||||
LIABILITIES
|
||||
Current
Liabilities:
|
||||
Accounts
Payable and Accrued Expenses (see NOTE: A)
|
$
|
387,412
|
||
Taxes
Payable (see NOTE: A)
|
60,449
|
|||
Interest
Payable
|
18,640
|
|||
Notes
Payable
|
76,859
|
|||
Bank
Loan
|
96,967
|
|||
TOTAL
LIABILITIES
|
640,327
|
|||
STOCKHOLDERS'
EQUITY
|
||||
Convertible
Preferred Stock ($.001 par value, 5,000,000 authorized: 911,553
issued and outstanding)
|
911
|
|||
Common
Stock ($.001 par value, 100,000,000 shares authorized: 22,290,210
shares
issued and outstanding)
|
22,290
|
|||
Additional
Paid-in-Capital
|
23,480,935
|
|||
Retained
Deficit
|
(23,951,504
|
)
|
||
TOTAL
STOCKHOLDERS' EQUITY
|
(447,368
|
)
|
||
TOTAL
LIABILITIES AND STOCKHOLDERS' EQUITY
|
$
|
192,959
|
Three
Months Ended June 30,
|
Six
Months Ended June 30,
|
||||||||||||
2006
|
2005
|
2006
|
2005
|
||||||||||
SALES
AND COST OF SALES:
|
|||||||||||||
Sales
|
$
|
375,995
|
$
|
95,228
|
$
|
792,327
|
$
|
147,603
|
|||||
Cost
of sales (NOTE B)
|
112,494
|
25,963
|
207,800
|
37,295
|
|||||||||
Gross
Profit
|
263,501
|
69,265
|
584,527
|
110,308
|
|||||||||
EXPENSES:
|
|||||||||||||
Selling,
general and administrative
|
391,522
|
63,951
|
725,309
|
144,361
|
|||||||||
Bad
Debt
|
-
|
-
|
525,000
|
-
|
|||||||||
Interest
Expense
|
3,547
|
5,800
|
8,991
|
5,800
|
|||||||||
395,069
|
69,751
|
1,259,300
|
150,161
|
||||||||||
NET
LOSS
|
$
|
(131,568
|
)
|
$
|
(486
|
)
|
$
|
(674,773
|
)
|
$
|
(39,853
|
)
|
|
Basic
and diluted income (loss) per share
|
$
|
<(0.01
|
)
|
$
|
<(0.01
|
)
|
$
|
<(0.01
|
)
|
$
|
<(0.01
|
)
|
|
Weighted
Average Shares Outstanding
|
21,683,851
|
32,539,523
|
21,799,792
|
31,408,042
|
2006
|
2005
|
||||||
CASH
FLOWS FROM OPERATING ACTIVITIES:
|
|||||||
Net
loss
|
$
|
(674,773
|
)
|
$
|
(39,853
|
)
|
|
Adjustments
to reconcile net loss to net cash (used in) operating
activities:
|
|||||||
Depreiation
|
48,904
|
5,705
|
|||||
Other
Assets
|
2,120
|
(88,173
|
)
|
||||
Notes
Payable
|
(109,540
|
)
|
-
|
||||
Tax
Liabilities
|
(141,417
|
)
|
-
|
||||
Accounts
receivable
|
522,739
|
(33,973
|
)
|
||||
Loan
to Shareholder
|
(16,213
|
)
|
-
|
||||
Accounts
payable and accrued expenses
|
(3,004
|
)
|
35,163
|
||||
NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES
|
(371,184
|
)
|
(121,232
|
)
|
|||
CASH
FLOWS FROM FINANCING ACTIVITIES:
|
|||||||
Proceeds
from sales of stock and warrants
|
308,128
|
-
|
|||||
Exercise
Stock Options
|
-
|
100,000
|
|||||
Bank
Loan
|
57,259
|
(2,644
|
)
|
||||
NET
CASH PROVIDED BY FINANCING ACTIVITIES
|
365,387
|
97,356
|
|||||
NET
INCREASE IN CASH AND
|
|||||||
CASH
EQUIVALENTS
|
(5,797
|
)
|
(23,876
|
)
|
|||
CASH
AND CASH EQUIVALENTS:
|
|||||||
Beginning
of period
|
49,857
|
-
|
|||||
End
of period
|
$
|
44,060
|
$
|
-
|
|
CYIOS
Corporation.
|
|
|
|
|
|
|
|
|
/s/
Timothy Carnahan
|
|
|
|
Timothy
Carnahan
|
|
|
|
Chief
Executive Officer, President, Treasurer, and Chairman of the
Board
|
|
|
|
/s/
Timothy Carnahan
|
|
|
|
Timothy
Carnahan
|
|
|
|
Chief
Executive Officer, President, Treasurer, and Chairman of the
Board
|
|