Operating expenses for the three months ended June 30, 2008 were $33,244 compared with $11,800 for the three months ended June 30, 2007. The increase in operating expenses for the three months ended from June 30, 2007 to June 30, 2008 is attributable to an increase in legal and accounting expense from $6,643 for the three months ended June 30, 2007 to $8,164 for the three months ended June 30, 2018, a decrease in listing and filing fees from $1,392 for the three months ended June 30, 2007 to $0 for the three months ended June 30, 2008, decrease in management fees from $1,760 for the three months ended June 30, 2007 to $0 for the three months ended June 30, 2008, increasee in office and miscellaneous fees from $950 for the three months ended June 30, 2007 to $25,080 for the three months ended June 30, 2008, a decrease in rents from $300 for the three months ended June 30, 2007 to $0 for the three months ended June 30, 2008 and a decrease in transfer agent fees from $815 for the three months ended June 30, 2007 to $0 for the three months ended June 30, 2008.
Operating expenses for the six months ended June 30, 2008 were $53,989 compared with $21,952 for the six months ended June 30, 2007. The increase in operating expenses for the six months ended from June 30, 2007 to June 30, 2008 is attributable to an increase in legal and accounting expense from $11,883 for the six months ended June 30, 2007 to $26,074 for the six months ended June 30, 2018, a decrease in listing and filing fees from $1,804 for the six months ended June 30, 2007 to $340 for the six months ended June 30, 2008, decrease in management fees from $5,900 for the six months ended June 30, 2007 to $1,700 for the six months ended June 30, 2008, increasee in office and miscellaneous fees from $950 for the six months ended June 30, 2007 to $25,080 for the six months ended June 30, 2008, a decrease in rents from $600 for the six months ended June 30, 2007 to $300 for the sixmonths ended June 30, 2008 and a decrease in transfer agent fees from $815 for the six months ended June 30, 2007 to $495 for the six months ended June 30, 2008.
During the three months ended June 30, 2008, the Company recorded a net loss of ($187,778), compared with net loss of ($11,800) for the three months ended June 30, 2007.