Our minority investment companies: ASFL
, GPlus Media, and Slate Consulting increased revenues and profits, enabling IA Global to recognize profits of $256,119 from ASFL
, $32,635 from GPlus Media, and $23,125 from Slate Consulting for the quarter.
With the closing of the ASFL
transaction on October 19, 2006 and the projected increased revenues in its Global Hotline business from its new 2006 and 2007 contracts, the Company is in compliance with the AMEX continued listing standards and its common stock continues to trade on AMEX.
The Company closed its equity investment in ASFL on October 19, 2006.
In addition, we expect ASFL to contribute $400,000 in net income to IA Global in the fourth quarter of 2006.
In addition, we closed the 36% equity investment in ASFL on October 19, 2006.
On a pro-forma basis, with the equity added by the ASFL investment on October 19, 2006 of $7,000,000, the pro-forma stockholder's equity is $8,593,000.