Umeworld Ltd (OTC:UMEWF)

WEB NEWS

Friday, January 30, 2015

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.


Thursday, February 13, 2014

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