WEB NEWS Comments & Business Outlook
KBRIDGE ENERGY CORP.
Consolidated statements of operations
(Expressed in U.S. dollars)
Year ended
December 31,
2015
$
Year ended
December 31,
2014
$
Revenue (Notes 7 and 9)
337,502
338,892
Operating expenses
Administration fees
283,836
377,740
Consulting fees
21,415
307,672
Foreign exchange (gain)/loss
12,391
(45,905)
Investor relations
-
6,049
Management fees (Note 7)
78,141
34,211
Office and miscellaneous
3,306
59,754
Professional fees
13,020
24,391
Recovery of expenses
-
(50,870)
Travel and promotion
37,004
85,809
Total operating expenses
449,113
798,851
Loss before other income (expense)
(111,611)
(459,959)
Other income (expense)
Gain on disposal of marketable securities (Note 3)
-
49,125
Gain on debt forgiveness
54,441
-
Impairment of marketable securities (Note 3)
(8,300)
(131,678)
Net loss for the year
(65,470)
(542,512)
Other comprehensive income
Effect on translating foreign operation
86,927
-
Total comprehensive income (loss)
21,457
(542,512)
Loss per share, basic and diluted
(0.00)
(0.04)
Weighted average number of shares outstanding
14,522,727
14,522,727
Comments & Business Outlook
KBRIDGE ENERGY CORP.
Year ended
Year ended
Revenue
338,892
1,187,523
Operating expenses
Administration fees
377,740
327,473
Consulting fees
307,672
283,851
Foreign exchange loss (gain)
(45,905
)
1,110
Investor relations
6,049
22,424
Management fees (Note 6)
34,211
97,420
Office and miscellaneous
59,754
60,502
Professional fees
24,391
29,627
Recovery of expenses
(50,870
)
(91,042
)
Travel and promotion
85,809
259,751
Total operating expenses
798,851
991,116
Income (loss) before other income (expense)
(459,959
)
196,407
Other income (expense)
Gain on disposal of marketable securities
49,125
–
Impairment of marketable securities (Note 3)
(131,678
)
–
Net income (loss) for the year
(542,512
)
196,407
Earnings (loss) per share, basic and diluted
(0.04
)
0.01
Weighted average number of shares outstanding
14,522,727
14,522,727
Comments & Business Outlook
KBRIDGE ENERGY CORP.
Statements of operations
(Expressed in U.S. dollars)
Year ended
Year ended
Revenue
1,187,523
461,040
Operating expenses
Administration fees
327,473
–
Amortization
–
1,391
Consulting fees
283,851
86,116
Foreign exchange loss
1,110
11,753
Investor relations
22,424
6,520
Management fees (Note 6)
97,420
–
Office and miscellaneous
60,502
63,184
Professional fees
29,627
13,841
Travel
168,709
65,342
Total operating expenses
991,116
248,147
Income before other expense
196,407
212,893
Other expense
Loss on disposal of property and equipment
–
(6,751
)
Net income for the year
196,407
206,142
Net income per share, basic and diluted
0.01
0.01
Weighted average number of shares outstanding
14,522,727
14,522,727
Management Discussion and Analysis
Year comparison between 2013 and 2012
The Company had net income of $196,407 for the year ended December 31, 2013 compared to net income of $206,142 in 2012. The net income in 2013 reflects the Company generating $1,187,523 in consulting revenue compared to $461,040 in 2012.
Reverse Merger Activity
Blue Marble Media Corp. (OTCBB:BMMCF) is pleased to announce, further to its press release dated March 8, 2010 , it has completed the transaction pursuant to the definitive qualifying transaction agreement. Mr. Jin Kyung Yang, President and CEO of the Company has now successfully completed the acquisition of Blue Cree Co. Ltd. ("BCC"). As consideration for the issued and outstanding shares of BCC the Company has issued 20,000,000 shares of the Company’s common stock pro rata to the shareholders of BCC in return for 88,795 shares of BCC, representing 100% of the share capital of BCC. The total issued and outstanding shares of the Company will now be 34,372,727.
BCC is a Korean corporation that was founded in 2002 and has ramped up sales increasingly since its inception. Sales revenue for 2009 were USD $10,800,000 and management is confident that the expansion into the US capital markets will exponentially grow the sales revenue while enhancing the integrated marketing system of TV commercial, creative advertising, film production, BTL marketing, entertainment, online promotion, and overseas production. BCC will now have the ability to expand its creative marketing field into North America and to enhance its current Korean business operations with additional capital along with creating strategic alliances with major entertainment and production partners in the North American market.
Financials
YEAR ENDED
December 31
2009
Revenue
$
10,802,543
Cost of revenue
9,767,778
Gross margin
1,034,765
Administrative Expenses
Wages and benefits
438,663
Director fees
200,000
Consulting
36,343
Amortization
10,326
Transfer agent fees
89,674
Rent and maintenance
247,110
Interest on debt
50,590
Professional fees
84,290
Travel, entertainment and promotion
105,969
Vehicles and transportation
21,079
Bad debts
2,383
Office and general
58,462
Heat, light, communication and power
20,553
Miscellaneous
10,999
1,376,441
Loss from operations
(341,676)
Other Items:
Interest earned
13,742
Recovery of bad debts
4,168
Miscellaneous income
61,831
Loss on disposal of fixed assets
(15,021)
Foreign exchange gain
599
Income tax expense
(44,516)
Net loss for the year
(320,873)
Deficit, beginning of the year
(2,367,967)
Deficit, end of the year
$
(2,688,840)
Loss from operations per share , pro forma
$
(0.01)
Net loss per share , pro forma
$
(0.01)
Number of shares, pro forma
34,472,727
Prepared by Management
