- Revenue was lower this quarter than perhaps any since the company was founded (Jan 12th, 2008), as Trevor has been unemployed since mid-November. However, several measures to cut basic costs (including canceling cable television, a gym membership, and trading the truck for a bus pass), have allowed us to nearly break even without our quality of life suffering dramatically. Total losses for the quarter amount to $334.08.
- Sources of revenue:
- Paychecks (91.3%)
- Sold Items - truck, cell phone, speakers, ect. (7.7%)
- Gigs (1%)
- Rent (40%)
- Bills - electric, gas, water, cell phone, internet/cable (24.3%)
- Food (12.7%) (eating out - 5.5%; eating in - 7.2%)
- Entertainment (includes Star Trek memorabilia) (7.1%)
- Bank fees (6.0%)
- We anticipate our value to increase significantly throughout the rest of 2010. Our revenue from paychecks is expected to nearly double shortly, as Trevor has some very promising job opportunities and we fully expect him to be employed by the end of the month, while I expect to retain my employment. Other revenue will likely remain the same or lower, but clearly paychecks are where we need to put our major efforts.
- We are moving to a less expensive apartment in a couple weeks, we anticipate rent costs to be reduced by a full 31%. While rent will still likely be our largest expense, the reduction in cost should be a major factor in our anticipated profitability next quarter.
- Expenses that will increase as the year goes on include taxes (as we apparently owe the IRS $700 this year) and debt payoff (for overpayment of SSI and a couple smaller, older debts), which we have been ignoring during these belt-tightening times.
- We may find dramatic increases in transportation and/or education expenses (this quarter: 0.4% and 0.7% respectively), as we may decide to buy a car and/or go to school in the next while, though this will depend on our profitability in other sectors.
- If our revenue increases as anticipated, bank fees should go down dramatically, as the majority of the cost there is related to overdraft fees, which are fairly avoidable when profits are up.
Jim Cramer says "Buy". Thank you.