WASHINGTON, April 20, 2011 /PRNewswire/ -- CYIOS Corporation
(OTC Bulletin Board: CYIO) filed its annual report 10K April 15th, 2011 and below clarifies
profits. "We are a very agile company in that we can make changes
do to economic, natural or business events and keep the primary
engines running smooth -- CYIPRO positions us to accomplish this
feat. I state this as we've made changes and we've overcome
obstacles and we're profitable," stated Timothy Carnahan, the company CEO. Please visit
http://www.cyios.com/InvestorRelations/tabid/58/Default.aspx
The total sales for our active subsidiary, CYIOS Corporation, a
District of Columbia corporation,
for the fiscal year ended December 31,
2010, were $1,849,804 and our
gross profit was $770,964 or a gross
profit margin of 42%. Our other active subsidiary, CKO, Inc.,
a District of Columbia
corporation, produced no revenue for the fiscal years ended
December 31, 2010. Our revenues
have remained strong through this tough economy and we have
generated a sufficient amount of revenue to cover our overhead and
operating expenses.
Although we posted a loss for 2010 of $394,051 on our consolidated financial
statements, a large portion of our expenses were attributed solely
to non-cash stock compensation expense in the amount of
$416,667 that was incurred by the
parent company and not our subsidiary, CYIOS Corporation (DC)
Company. If we had not incurred those non-cash expenses we
would have posted a solid net income of $22,116 for the year ended December 31, 2010. Furthermore, in 2010 we
used $160,000 of the CYIOS
Corporation (DC) Company's profits to fund the marketing and
development of CYIPRO™. We were able to incur these
additional marketing and developing expenses without the assistance
of outside funding. More importantly, we were able to incur
these expenses and sufficiently take care of our overhead and
operating expenses. Had we not used this additional money to invest
in CYIPRO™, our net profit in CYIOS Corporation (DC) would have
been $182,116. As for the CYIOS
Group, the parent, (CYIO), we emphasize two points to take from
this letter; one is that we have a $7,000,000 line of equity that we have not
accessed and we have a tax carry forward loss of $6,000,000. This means as we grow, we can access
the line of equity for funding marketing and development of
CYIPRO™. And, any future profits offset against approximately
$6,000,000 in carry forward losses,
thus lowering our taxes. "CYIOS has always been a great investment
and we hope to show loyal investors the reward of long term
patience," stated Tim Carnahan.
Management is aggressively working to increase our business with
the Department of Defense and the rest of the federal government.
In order to achieve this goal, we have actively bid on request for
proposals by different departments and their agencies. We have, and
will continue to invest all of our earnings into additional
personnel to help achieve this goal. We are also aggressively
marketing the sale of our product CYIPRO™ to Department of Defense,
government and small businesses. In the latter part of 2010 and in
early 2011 we have launched a new marketing campaign to inform the
public about our product CYIPRO™.
Again, for investors, the key to our success will be CYIPRO™
sales in 2011 from CKO Inc and additional contracts from CYIOS. We
have plans of revenue from approximately 180K per month by end of
this year from CKO Inc. We have bids awaiting award for CYIOS
upward in the 5 - 10M and 20M over five years. "We appreciate the
support from shareholders, these are tough times but we have a path
of success and the light is shining brighter and brighter," stated
Timothy Carnahan.
About CYIOS Corp.
CYIOS Corporation is the maker of CYIPRO, a business
transformation tool that utilizes the first project based operating
system (OS). This new project OS is the nucleus of why CYIPRO can
transform people, processes and information into a productive,
effective and rich environment. CYIPRO securely brings the latest
concepts of business transformation and technology to fruition.
CYIPRO is in position to support MANY government initiatives and
is based upon CYIOS's experience building the world's largest
knowledge management portal, www.us.army.mil. CYIPRO revolutionizes
organizations, saves time and money, and empowers staff and
management to make decisions based upon lessons learned and
organizational knowledge.
Forward Looking Statements:
Except for statements of historical fact, the information
presented herein contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including, without limitation, expectations, beliefs, plans
and objectives regarding future activities. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors, which may cause the actual results, performance or
achievements of CYIOS Corporation to be materially different from
any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include
general economic and business conditions, the ability to acquire
and develop future assets, the ability to fund operations and
changes in consumer and business consumption habits and other
factors over which CYIOS Corporation has little or no control.
Except as may be required under applicable law, CYIOS Corporation
undertakes no obligation to update any forward-looking statements
contained herein as a result of new information, future events or
otherwise.
CYIOS Corporation
Ronald Reagan Building
Washington, DC 20004
Contact: Timothy Carnahan
+1-202-204-3006
SOURCE CYIOS Corporation
