Simtrol released its quarterly report for the quarter ended June 30, 2007. The report announced that total assets increased about 571% for the six months ended on June 30, 2007 from $285,908 for the six months ended on December 31, 2006. The company explained that the increase was primarily due to proceeds from Series B convertible preferred stock that was issued March 16, 2007 in a private placement.
The company also announced that its revenues substantially increased from $35,056 to $41,900, an increase of 19.6%. The company announced last month that it joined Polycom ARENA program to provide digital arraignment solutions to local, state and regional governments, which may be part of the reason for the increase.
There is much opportunity for Simtrol as state and local government spending for audiovisual products and systems alone is over $1 billion annually according to a report completed by the International Communications Industries Association.
Please share your thoughts: Simtrol Message Board
