Wednesday, October 29, 2008

Status Update - Oct 29th


How are we doing? We just completed our Tax Returns for our first fiscal year (Aug-Aug) and there were some things that surprised us.

We made $40 000 in revenue. It might seem like a lot (if you're us) or not a lot (if you're not us necessarily) but wow, making money was hard but for a learning year, we did OK.

Our expenses were quite small. If you exclude money for lawyers (patent, incoroporation fees) our expenses wouldn't even total half our revenues.

Per hour, we get paid around $2. Or at least we did during our first year.

These are quite interesting facts. We'll have to do a similar update for year 2.

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