Let me try my hand at spining financial figures so they look better than they really are.
TYLER's revenue for the first and second quarter of 2007 stands at $68.4K almost double the 2006 revenue for the full year ($38.3K). This is represents a 361.38% increase in revenue over the same period last year.
TYLER's CFO, Leonard had this to say about the company's improved financial performance. "We have exceeded our growth target for the year (because we didn't have one at all). I'll have officially graduated by the 2nd half of the year so I'm optimistic that we will do even better."
TYLER plans to release 2 game titles by the end of 2007 as well as a online multi-player game service.
"I haven't stated any profit figures but I would like to ensure all our shareholders that I personally ensure that our directors' salaries rises in line with our profits to ensure that we do not have to pay too much corporate tax." -quipped Leonard
8 comments:
Well, thats strange. I hope the company goes well.
yuyuyu
Very nice?
Actually this was meant to be a satirical commentary on the misleading way companies report their financial performance.
But the figures are accurate.
$68,400! Wow! That's great this incresse almost makes up for losing that compitittion a while back.
Can't wait to see you you will be able to do with that money!
YU 337,
The first place competition money was $130,000.
We're 66K short for the end of this year to match that. But we'll be raising as much as 90K worth of grants and loans hopefully by September this year.
Won't the company lose so much and incur dilution that it pointless to continue anymore ?
There isn't any dilution because we didn't have any new issuance of shares.
Grants are basically free money as long as we meet the milestones set for us by the Government. This is the good part about being based in Singapore.
And funding is convertible debt, which doesn't dilute us. It's like a put option for us in a way.
Even if they did choose to exercise the option to convert, I made sure that the conversion was based on a high premoney valuation. So our working capital should be able to repay the debt obligation before it gets called.
Thank for your honest reply. It's rare in Singapore for entrepreneur to be even honestly open about funding, business plan loophole, in Singapore etc. You probably educate Singaporean about the reality of such thing in Singapore since you been there before and still doing it.
In term of passion and commitment, I do find you guys hold much better than those from other SG universities.
Those from latter tend to be so overly-positive and window-dressing that you could hardly believe what they say. They love to promote and market themselves so much where mostly they aren't doing the thing themselves. I not too sure but it see to be pervasive culture for those universities. If so many among many others doing that, it speak very well of the university.
Your experience and honestly speak much better.
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