EAXR
EAXRCIK 0000832370
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S-1/A
Filed May 27, 2026
Red flag
EAXR files S-1/A for resale of 22.6M shares by selling stockholders; company gets no proceeds
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10-Q/A
Filed May 27, 2011
· Period ending Dec 31, 2010
Summary not yet generated.
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10-Q/A
Filed May 26, 2011
· Period ending Mar 31, 2011
Summary not yet generated.
10-Q
Filed May 23, 2011
· Period ending Mar 31, 2011
Summary not yet generated.
10-Q/A
Filed Mar 9, 2011
· Period ending Dec 31, 2010
Summary not yet generated.
10-Q
Filed Feb 22, 2011
· Period ending Dec 31, 2010
Summary not yet generated.
Latest financial statements
From 10-Q/A filed May 27, 2011 (period ending Dec 31, 2010). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
| Description | Three months ended December 31, 2010 | Three months ended December 31, 2009 | Six months ended December 31, 2010 | Six months ended December 31, 2009 |
|---|---|---|---|---|
| Revenues | 4,423,909 | 4,134,368 | 8,860,669 | 8,675,006 |
| Cost of revenues | 4,240,772 | 3,711,114 | 8,428,665 | 7,906,879 |
| Gross profit | 183,137 | 423,254 | 432,004 | 768,126 |
| Operating expenses: | ||||
| General and administrative: | ||||
| Consultants | -- | 15,500 | -- | 35,152 |
| Bad debt expense | 74,636 | -- | 79,470 | 130,506 |
| Research & Development Expenses | 206,214 | - | 206,214 | - |
| Salaries and payroll related expense | 260,884 | 663,957 | 467,269 | 962,836 |
| Management fee to Flint Telecom, Ltd. | 50,000 | 118,650 | 100,000 | 250,000 |
| Stock compensation and option expense: | ||||
| Directors and officers | 138,937 | 116,535 | 325,125 | 699,392 |
| Consultants | 72,084 | 185,561 | 230,417 | 185,561 |
| Employees | 76,000 | 89,624 | 76,000 | 89,624 |
| Depreciation and amortization expense | 297,950 | 576,704 | 306,879 | 1,221,405 |
| Other | 179,624 | 105,661 | 252,771 | 564,130 |
| Total general and administrative | 1,356,329 | 1,872,192 | 2,044,145 | 4,138,606 |
| Operating loss | (1,173,193) | (1,448,938) | (1,612,142) | (3,370,480) |
| Other income (expense) | 42,090 | |||
| Interest expense | (1,074,034) | (771,529) | (2,655,783) | (1,948,735) |
| Loss on disposal of fixed asset | ||||
| Foreign Exchange | 25,564 | (4,962) | (43,321) | (10,807) |
| Impairment of goodwill | ||||
| Debt issuance costs | ||||
| Discontinued operations, net of tax | -- | (7,828,549) | -- | (7,818,265) |
| Net loss | (2,221,663) | (10,053,978) | (4,311,246) | (13,106,197) |
Condensed Consolidated Balance Sheets
| Description | December 31, 2010 (unaudited) | June 30, 2010 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 86,311 | 19,419 |
| Accounts receivable, net of allowance for doubtful accounts of $218,015 | ||
| for December 31, 2010 and $431,381 for June 30, 2010 | 1,884,223 | 1,049,648 |
| Inventories | 343,812 | 361,784 |
| Prepaid expenses and other current assets | -- | -- |
| Current assets | 2,314,346 | 1,430,851 |
| Fixed assets: | ||
| Equipment | 6,453,737 | 1,885,604 |
| Capitalized leases equipment | 194,839 | 194,839 |
| Total fixed assets | 6,648,576 | 2,080,443 |
| Less: accumulated depreciation | (2,024,394) | (1,839,372) |
| Net fixed assets | 4,624,182 | 241,071 |
| Deferred offering costs | 28,333 | -- |
| Deposit | 3,200 | 3,200 |
| Other intangible assets, net | 3,197,382 | -- |
| Debt issuance costs, net | 9,100 | -- |
| Other assets | 10,296 | -- |
| Total assets | 10,186,839 | 1,675,122 |
| LIABILITIES & STOCKHOLDERS' (DEFICIT) | ||
| Current liabilities: | ||
| Accounts payable | 4,706,430 | 3,641,554 |
| Cash overdraft | 29,550 | -- |
| Other accrued liabilities | 786,233 | 587,033 |
| Accrued interest payable | 1,817,392 | 650,897 |
| Lease obligations current | 781,309 | 375,371 |
| Lines of credit | 2,773,805 | 2,038,102 |
| Due to Flint Telecom Limited | 163,160 | 156,042 |
| Notes payable | 1,856,637 | 1,935,163 |
| Notes payable related parties | 2,123,351 | 2,061,861 |
| Convertible notes payable, net of discount | 1,883,919 | 517,059 |
| Convertible notes payable related parties | 98,000 | 98,000 |
| Other payable | 35,961 | -- |
| Total current liabilities | 17,055,747 | 12,061,082 |
| Redeemable equity securities | 4,876,782 | 4,515,379 |
| Convertible preferred stock, net of discount | 5,183,561 | -- |
| Stockholders' (deficit) | ||
| Preferred stock: $0.001 par value; 5,000,000 authorized, 607,000 issued and outstanding at December 31, 2010, 366,788 issued and outstanding at June 30, 2010 | 307 | 367 |
| Common stock: $0.01 par value; 900,000,000 authorized, 41,147,225 issued and outstanding at December 31, 2010, 6,491,221 issued and outstanding at June 30, 2010 | 411,472 | 64,912 |
| Common stock issuable | -- | 2,368 |
| Additional paid-in capital | 36,986,813 | 34,114,627 |
| Deferred offering costs paid in common stock | (66,000) | -- |
| Accumulated deficit | (54,944,759) | (50,088,548) |
| Total stockholders' (deficit) | (17,612,167) | (15,906,274) |
| Total liabilities, redeemable equity securities, convertible preferred stock and stockholders’ (deficit) | 10,186,839 | 1,675,122 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Description | Six months ended December 31, 2010 | Six months ended December 31, 2009 |
|---|---|---|
| Cash Flows from Operating Activities: | ||
| Net loss | (4,311,246) | (13,106,197) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 306,879 | 1,279,246 |
| Bad debts | 79,470 | 130,506 |
| Other non-cash transactions: | ||
| Impairment of goodwill and other intangible assets | -- | 7,760,028 |
| Stock and option compensation expense | 631,542 | 974,577 |
| Loss on fixed assets | -- | 332,023 |
| Accretion of debt discount | 652,229 | 1,152,889 |
| Amortization of beneficial conversion feature | 867,445 | -- |
| Changes in assets and liabilities, net of acquisition and disposals: | ||
| Accounts receivable | (914,045) | (164,350) |
| Prepaid expense | -- | 8,234 |
| Inventories | 17,972 | 401,146 |
| Deferred offering costs & debt issuance costs | (37,433) | -- |
| Deposit | -- | (109) |
| Accounts payable | 703,810 | (1,113,818) |
| Cash overdraft | 29,550 | (175,096) |
| Accrued liabilities | 160,638 | 117,206 |
| Net due to (from) Flint Telecom, Ltd. | 71,626 | 359,690 |
| Due from related parties | -- | 124,174 |
| Accrued interest | 1,152,348 | 241,770 |
| Net cash used in operating activities | (589,215) | (1,678,061) |
| Cash Flows from Investing Activities: | ||
| Purchases of fixed assets | -- | (8,532) |
| Investment in notes receivable | -- | (125,000) |
| Cash from acquisition | 15,063 | -- |
| Net cash provided by (used in) investing activities | 15,063 | (133,532) |
| Proceeds from lines of credit | -- | 16,176 |
| Proceeds from related parties debt | 78,000 | 165,150 |
| Proceeds from new debt | 524,000 | 805,000 |
| Payments on debt | -- | (175,000) |
| Payments on line of credit | (4,277) | (3,925) |
| Payments on related party debt | -- | (50,279) |
| Payments on lease obligations | -- | (6,088) |
| Redemption of preferred stock | -- | -- |
| Net cash provided (used) by financing activities | 597,723 | 751,034 |
| Cash Flows From Foreign Currency Activities: | ||
| Exchange (gain) loss on convertible notes | 43,321 | 10,807 |
| Net cash provided by (used in) foreign currency activities | 43,321 | 10,807 |
| Net increase (decrease) in cash and cash equivalents | 66,892 | (1,049,752) |
| Cash and cash equivalents, beginning of the period | 19,419 | 1,337,002 |
| Cash and cash equivalents, end of the period | 86,311 | 287,250 |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗