WEB NEWS Comments & Business Outlook
UMEWORLD LIMITED
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
FOR THE YEARS ENDED SEPTEMBER 30, 2014, 2013 AND 2012
(All amounts in US Dollars)
2014
2013
2012
License Fees and Royalties
$
-
$
760,329
$
166,803
TOTAL REVENUES
-
760,329
166,803
General and Administrative Expenses
1,076,086
994,931
404,791
Goodwill impairment (Note 15)
-
19,425,346
-
Stock-based Compensation
2,692,960
-
-
Depreciation
4,804
3,452
2,280
LOSS FROM OPERATIONS
(3,773,850
)
(19,663,400
)
(240,268
)
OTHER INCOME
Other income
13,364
106,377
244,325
Interest income
409
2,704
682
OTHER EXPENSES
Interest Expense, net
(96,670
)
(88,348
)
(97,632
)
LOSS BEFORE INCOME TAXES
(3,856,747
)
(19,642,667
)
(92,893
)
INCOME TAX (Note 10)
-
-
-
Net Loss
(3,856,747
)
(19,642,667
)
(92,893
)
Net (Income)/Loss attributable to Non-Controlling interests
(15,624
)
(15,620
)
15,604
Net Gain/(Loss) attributable to UMeWorld Limited Stockholders
(3,872,371
)
(19,658,287
)
(77,289
)
Comprehensive Loss
Net Gain/(Loss)
(3,872,371
)
(19,658,287
)
(77,289
)
Translation Adjustment
1,174
4,346
(315
)
Comprehensive Gain/(Loss)
(3,871,197
)
(19,653,941
)
(77,604
)
Less: Comprehensive Income Attributable to Non-Controlling Interests
235
(869
)
(63
)
Comprehensive Gain/(Loss) Attributable to UMeWorld Limited Stockholders
(3,870,962
)
(19,654,810
)
(77,667
)
Per Share Data
Net Loss Per Share, basic and diluted
$
(0.0435
)
$
(0.2208
)
$
(0.0031
)
Weighted Average Number of Common Shares Outstanding
89,036,000
89,036,000
25,023,148
Management Discussion and Analysis
Revenues
Revenues totaled $0 for the year ended September 30, 2014 as compared to $760,329 generated for the year ended September 30, 2013, a decrease of $760,329 or 100%. The decrease in revenues was mainly due to the disposal of Indaflex rights in Mexico to Andromaco.
Loss from Continuing Operations and Net Loss
As a result of the above revenues and expenses, we incurred a loss from continuing operations of $3,872,371 for the year ended September 30, 2014 as compared to $19,642,667 incurred loss for the same period a year ago, a decrease of $15,677,403 or about 80%. Revenues decreased by $760,329 and expenses decreased by $15,889,550 in the year ended September 30, 2014 as compared to the previous year.
Comments & Business Outlook
UMEWORLD LIMITED
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
FOR THE YEARS ENDED SEPTEMBER 30, 2013, 2012 AND 2011
(All amounts in US Dollars)
2013
2012
2011
License Fees and Royalties
$
760,329
$
166,803
$
158,166
Consulting Revenues
-
-
25,337
TOTAL REVENUES
760,329
166,803
183,503
General and Administrative Expenses
994,931
404,791
374,676
Research and Development Expenses
-
-
16,609
Depreciation
3,452
2,280
33,698
LOSS FROM OPERATIONS
(238,054
)
(240,268
)
(241,480
)
OTHER INCOME
Other income
106,377
244,325
83,292
Interest income
2,704
682
-
OTHER EXPENSES
Interest Expense, net
(88,348
)
(97,632
)
(103,872
)
LOSS BEFORE INCOME TAXES
(217,321
)
(92,893
)
(262,060
)
INCOME TAX (Note 10)
-
-
-
Net Loss
(217,321
)
(92,893
)
(262,060
)
Net (Income)/Loss attributable to Non-Controlling interests
(15,620
)
15,604
-
Net Gain/(Loss) attributable to UMeWorld Limited Stockholders
(232,941
)
(77,289
)
(262,060
)
Comprehensive Loss
Net Gain/(Loss)
(232,941
)
(92,893
)
(262,060
)
Translation Adjustment
4,346
(315
)
(3,726
)
Comprehensive Gain/(Loss)
(228,595
)
(93,208
)
(265,786
)
Less: Comprehensive Income Attributable to Non-Controlling Interests
(869
)
(63
)
(745
)
Comprehensive Gain/(Loss) Attributable to UMeWorld Limited Stockholders
(229,464
)
(93,271
)
(266,531
)
Per Share Data
Net Loss Per Share, basic and diluted
$
(0.0026
)
$
(0.0037
)
$
(0.014
)
Weighted Average Number of Common Shares Outstanding
89,036,000
25,023,148
18,960,489