Nevada
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03-7392107
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(State
or other jurisdiction of incorporation or organization)
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(I.R.S.
Employer Identification Number)
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1300
PENNSYLVANIA AVE, SUITE 700 WASHINGTON DC
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20004
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(Address
of principal executive offices)
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(Zip/Postal
Code)
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(703)
294-9933
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(Telephone
Number)
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1
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1
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1
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2
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3
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4
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5
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6
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6
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9
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9
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10
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10
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11
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11
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11
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11
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11
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11
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11
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11
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12
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Exhibit
31.1 - Certifications
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13
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Exhibit
32.1- Certification Pursuant to 18 U.S.C. Section 1350
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14
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Consolidated
Condensed Balance Sheet (Unaudited)
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As
of March 31, 2007
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ASSETS
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||||
CURRENT
ASSETS
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||||
Cash
and Cash Equivalents
|
$ |
60,778
|
||
Accounts
Receivable
|
39,441
|
|||
Other
Current Assets
|
5,850
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|||
Loan
to Shareholder
|
16,213
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|||
TOTAL
CURRENT ASSETS
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122,282
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|||
PROPERTY
AND EQUIPMENT
|
||||
Property
and Equipment
|
873,529
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|||
Accumulated
Depreciation
|
(873,529 | ) | ||
Net
Property and Equipment
|
-
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|||
TOTAL
ASSETS
|
$ |
122,282
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||
LIABILITIES
AND STOCKHOLDERS' DEFICIT
|
||||
LIABILITIES
|
||||
Current
Liabilities:
|
||||
Line
of Credit
|
$ |
100,979
|
||
Shareholder
Loan Payable
|
35,916
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|||
Interest
Payable
|
4,971
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|||
Taxes
Payable (NOTE A)
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13,629
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|||
Payroll
Taxes Payable (NOTE A)
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46,588
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|||
Accounts
Payable (NOTE A)
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395,649
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|||
TOTAL
LIABILITIES
|
597,732
|
|||
STOCKHOLDERS'
DEFICIT
|
||||
Convertible
Preferred Stock ($.001 par value, 5,000,000 authorized: 911,553 issued
and
outstanding)
|
911
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|||
Common
Stock ($.001 par value, 100,000,000 shares authorized: 27,101,741
shares
issued and outstanding)
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27,101
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|||
Additional
Paid-in-Capital
|
23,628,232
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|||
Retained
Deficit
|
(24,131,694 | ) | ||
TOTAL
STOCKHOLDERS' DEFICIT
|
(475,450 | ) | ||
TOTAL
LIABILITIES AND STOCKHOLDERS' DEFICIT
|
$ |
122,282
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Consolidated
Statement of Operations (Unaudited)
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For
the three months ended March 31, 2007 and
2006
|
2007
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2006
|
|||||||
SALES
AND COST OF SALES:
|
||||||||
Sales
|
$ |
566,018
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$ |
416,332
|
||||
Cost
of sales
|
125,301
|
95,306
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||||||
Gross
Profit
|
440,717
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321,026
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||||||
EXPENSES:
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||||||||
Selling,
general and administrative
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381,638
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316,095
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||||||
Professional
Fees
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22,574
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19,442
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||||||
Bad
Debt
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-
|
525,000
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||||||
Interest
Expense
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2,100
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5,444
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||||||
406,312
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865,981
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|||||||
NET
INCOME/(LOSS)
|
$ |
34,405
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$ | (544,955 | ) | |||
Basic
and diluted income (loss) per share
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$ |
0.002
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$ | (0.025 | ) | |||
Weighted
Average Shares Outstanding
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21,686,732
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21,567,910
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Consolidated
Statements of Cash Flows (Unaudited)
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For
the three months ended March 31, 2007 and
2006
|
2007
|
2006
|
|||||||
CASH
FLOWS FROM OPERATING ACTIVITIES:
|
||||||||
Net
income/(loss)
|
$ |
34,405
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$ | (544,955 | ) | |||
Adjustments
to reconcile net loss to net cash provided by (used in) operating
activities:
|
||||||||
Depreciation
|
-
|
41,849
|
||||||
(Increase)/Decrease
in Accounts Receivable
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21,206
|
526,303
|
||||||
(Increase)/Decrease
in Other Assets
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14,063
|
7,970
|
||||||
Increase/(Decrease)
In Taxes Payable
|
(191 | ) | (138,284 | ) | ||||
Increase/(Decrease)
in Accounts Payable
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(12,242 | ) | (9,294 | ) | ||||
NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES
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57,241
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(116,411 | ) | |||||
CASH
FLOWS FROM FINANCING ACTIVITIES:
|
||||||||
Proceeds
from sale of common stock/capital contributions
|
8,236
|
94,581
|
||||||
Shareholder's
Loan Receivable
|
(16,213 | ) |
-
|
|||||
Increase/(Decrease)
in Shareholder Loan Payable
|
(13,791 | ) | (13,265 | ) | ||||
Increase/(Decrease)
in borrowings on Notes Payable
|
-
|
(60,903 | ) | |||||
Increase/(Decrease)
in borrowings on Line of Credit
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-
|
65,342
|
||||||
NET
CASH PROVIDED BY (USED IN)
INVESTMENT ACTIVITIES
|
(21,768 | ) |
85,755
|
|||||
NET
INCREASE IN CASH AND
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||||||||
CASH
EQUIVALENTS
|
35,473
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(30,656 | ) | |||||
CASH
AND CASH EQUIVALENTS:
|
||||||||
Beginning
of Period
|
25,305
|
49,857
|
||||||
End
of Period
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$ |
60,778
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$ |
19,201
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518112
|
WEB
SEARCH PORTALS
|
518210
|
DATA
PROCESSING, HOSTING AND RELATED SERVICES
|
519100
|
OTHER
INFORMATION SERVICES
|
519190
|
ALL
OTHER INFORMATION SERVICES
|
541510
|
COMPUTER
SYSTEMS DESIGN AND RELATED SERVICES
|
541511
|
CUSTOM
COMPUTER PROGRAMMING SERVICES
|
541512
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COMPUTER
SYSTEMS DESIGN SERVICES
|
541513
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COMPUTER
FACILITIES MANAGEMENT SERVICES
|
541519
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OTHER
COMPUTER RELATED SERVICES
|
541611
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ADMIN.
MANAGEMENT AND GENERAL MGMT CONSULTING
SERVICES
|
541618
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OTHER
MANAGEMENT CONSULTING SERVICES
|
541690
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OTHER
SCIENTIFIC AND TECHNICAL CONSULTING
SERVICES
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CYIOS
Corporation.
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||
/s/
Timothy Carnahan
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||
|
Timothy
Carnahan
|
|
Chief
Executive Officer, President, Treasurer, and Chairman of the
Board
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/s/
Timothy Carnahan
|
||
Timothy
Carnahan
|
||
Chief
Executive Officer, President, Treasurer, and Chairman of the
Board
|