Oklahoma
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333-150332
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75-1518725
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(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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99.01 Press Release, dated August 26, 2013, issued by MacroSolve, Inc.
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MACROSOLVE, INC. | |
Date: August 26, 2013
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By: /s/ KENDALL CARPENTER
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Kendall Carpenter
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Chief Financial Officer
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● | Net revenues were $302,000 for the second quarter of 2013, a 47% increase over the same period in 2012; | |
● | Net income from continuing operations in the second quarter of 2013 increased $224,000, or 111%, over the same period in 2012; and | |
● | Operating expenses in the second quarter of 2013 decreased by $183,000, a 55% decrease over the same period in 2012. |
MACROSOLVE, INC.
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BALANCE SHEETS (UNAUDITED)
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For the Periods Ended:
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6/30/2013
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12/31/2012
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ASSETS
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CURRENT ASSETS:
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Cash
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$ | 821,240 | $ | 659,204 | ||||
Accounts receivable - trade
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128,606 | 74,056 | ||||||
Prepaid expenses and other
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46,319 | 519,330 | ||||||
Total current assets
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996,165 | 1,252,590 | ||||||
PROPERTY AND EQUIPMENT, at cost:
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4,237 | 21,651 | ||||||
Less - accumulated depreciation and amortization
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(1,298 | ) | (19,462 | ) | ||||
Net property and equipment
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2,939 | 2,189 | ||||||
OTHER ASSETS:
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Investment in DecisionPoint Systems, Inc.
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650,557 | 579,875 | ||||||
Investment in MEDL Mobile Holdings, Inc.
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53,939 | - | ||||||
Investment in Endexx Corporation
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13,982 | - | ||||||
Other assets
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68,955 | 64,227 | ||||||
Total other assets
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787,433 | 644,102 | ||||||
TOTAL ASSETS
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$ | 1,786,537 | $ | 1,898,881 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY
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CURRENT LIABILITIES:
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Current maturities of long-term debt
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$ | 90,000 | $ | 90,000 | ||||
Accounts payable - trade and accrued liabilities
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125,487 | 84,062 | ||||||
Unearned income
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10,000 | 500,000 | ||||||
Total current liabilities
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225,487 | 674,062 | ||||||
LONG-TERM DEBT, less current maturities
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Note Payable - Shareholders
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557,631 | 541,752 | ||||||
Oklahoma Technology Commercialization Center
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80,000 | 125,000 | ||||||
Convertible debentures
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150,000 | 150,000 | ||||||
Total long-term debt, less current maturities
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787,631 | 816,752 | ||||||
COMMITMENTS AND CONTINGENCIES
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- | - | ||||||
STOCKHOLDERS' EQUITY:
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Common stock, $.01 par value; authorized 500,000,000 shares;
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issued and outstanding 185,683,100 and179,831,987 shares, at
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June 30, 2013 and December 31, 2012, respectively
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1,856,831 | 1,798,320 | ||||||
Additional paid-in capital
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13,232,497 | 13,230,111 | ||||||
Accumulated other comprehensive income
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(96,521 | ) | (170,125 | ) | ||||
Accumulated deficit
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(14,219,388 | ) | (14,450,239 | ) | ||||
Total stockholders' equity
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773,419 | 408,067 | ||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
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$ | 1,786,537 | $ | 1,898,881 |
MACROSOLVE, INC.
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STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED)
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For the Quarters Ended
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For the Year to Date
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For the Periods Ended June 30,
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6/30/2013
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6/30/2012
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6/30/2013
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6/30/2012
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Net revenues
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$ | 302,253 | $ | 206,275 | $ | 968,351 | $ | 905,507 | ||||||||
Cost of revenues
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129,069 | 73,761 | 408,116 | 357,027 | ||||||||||||
Gross profit
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173,184 | 132,514 | 560,235 | 548,480 | ||||||||||||
Selling, general and administrative expense
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151,766 | 334,781 | 307,893 | 672,074 | ||||||||||||
Income from operations
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21,418 | (202,267 | ) | 252,342 | (123,594 | ) | ||||||||||
OTHER INCOME (EXPENSE):
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Interest income
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4,008 | 20 | 4,220 | 28 | ||||||||||||
Interest expense
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12,755 | 32,012 | 25,306 | 116,156 | ||||||||||||
Loss on sale of asset
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- | - | 436 | 761 | ||||||||||||
Total other expense
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8,747 | 31,992 | 21,522 | 116,889 | ||||||||||||
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
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12,671 | (234,259 | ) | 230,820 | (240,483 | ) | ||||||||||
INCOME TAXES
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- | - | - | - | ||||||||||||
NET INCOME (LOSS) FROM CONTINUING OPERATIONS
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12,671 | (234,259 | ) | 230,820 | (240,483 | ) | ||||||||||
DISCONTINUED OPERATIONS
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Loss from operations of discontinued Illume Mobile operations
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- | (545,175 | ) | - | (1,243,981 | ) | ||||||||||
NET INCOME (LOSS)
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12,671 | (779,434 | ) | 230,820 | (1,484,464 | ) | ||||||||||
OTHER COMPREHENSIVE INCOME, net of tax
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Unrealized holding gain arising during the period
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73,603 | - | 73,603 | - | ||||||||||||
COMPREHENSIVE INCOME (LOSS)
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$ | 86,274 | $ | (779,434 | ) | $ | 304,423 | (1,484,464 | ) | |||||||
INCOME (LOSS) ALLOCABLE TO COMMON STOCKHOLDERS:
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Net income (loss)
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$ | 12,671 | $ | (779,434 | ) | $ | 230,820 | (1,484,464 | ) | |||||||
Income (loss) allocable to common stockholders
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$ | 12,671 | $ | (779,434 | ) | $ | 230,820 | (1,484,464 | ) | |||||||
Basic and diluted net income (loss) from continuing operations per share
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$ | 0.00 | $ | (0.00 | ) | $ | 0.00 | (0.00 | ) | |||||||
Basic and diluted net loss from discontinued operations per share | $ | 0.00 | $ | (0.00 | ) | $ | 0.00 | $ | (0.01 | ) | ||||||
Basic and diluted net income (loss) per share | $ | 0.00 | $ | (0.00 | ) | $ | 0.00 | $ | (0.01 | ) |