| Quarterly Financial Information |
NOTE 9. QUARTERLY FINANCIAL INFORMATION (unaudited)
The following table reflects the quarterly results of operations
for the years ended December 31, 2014 and 2013:
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| Fiscal Year 2014: |
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Quarter Ended |
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March 31,
2014 |
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June 30,
2014 |
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September 30,
2014 |
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December 31,
2014 |
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Operating revenues
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$ |
1,495,636 |
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$ |
1,565,935 |
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$ |
1,777,675 |
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$ |
2,345,676 |
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Operating expenses
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(1,100,452 |
) |
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(1,208,458 |
) |
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(1,476,092 |
) |
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(1,799,948 |
) |
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Other expenses
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(367,643 |
) |
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(651,948 |
) |
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(194,351 |
) |
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(484,661 |
) |
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Net income before income taxes
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27,541 |
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(294,471 |
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107,232 |
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61,067 |
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Provision for income taxes
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(6,623 |
) |
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(6,623 |
) |
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(6,857 |
) |
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(6,399 |
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Net income (loss)
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$ |
20,918 |
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$ |
(301,094 |
) |
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$ |
100,375 |
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$ |
54,668 |
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Earnings (loss) per weighted average common shares—basic and
diluted
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$ |
0.00 |
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$ |
(0.05 |
) |
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$ |
0.02 |
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$ |
0.01 |
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Weighted average common shares outstanding—basic and
diluted
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6,530,264 |
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6,530,264 |
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6,605,264 |
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7,735,354 |
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| Fiscal Year 2013: |
|
Quarter Ended |
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March 31,
2013 |
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June 30,
2013 |
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September 30,
2013 |
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December 31,
2013 |
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Operating revenues
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$ |
914,583 |
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$ |
949,756 |
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$ |
996,096 |
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$ |
1,177,703 |
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Operating expenses
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(538,105 |
) |
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(611,333 |
) |
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(647,480 |
) |
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(883,767 |
) |
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Other expenses
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(269,773 |
) |
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(261,229 |
) |
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(258,450 |
) |
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(272,954 |
) |
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Net income before income taxes
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106,705 |
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77,194 |
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90,166 |
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20,982 |
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Provision for income taxes
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(59,189 |
) |
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(46,838 |
) |
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(85,406 |
) |
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(1,328,297 |
) |
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Net income
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$ |
47,516 |
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$ |
30,356 |
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$ |
4,760 |
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$ |
(1,307,315 |
) |
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Earnings per weighted average common shares—basic and
diluted
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$ |
0.01 |
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$ |
0.00 |
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$ |
0.00 |
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$ |
(0.21 |
) |
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Weighted average common shares outstanding—basic and
diluted
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5,249,898 |
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6,530,264 |
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6,530,264 |
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6,530,264 |
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