RAPIDTRON, INC.
(FORMERLY THE FURNISHING CLUB)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2005 AND 2004
==================================================
UNAUDITED
2005 2004
------------ ------------
<S> <C> <C>
NET SALES $ 150,818 $ 481,949
COST OF GOODS SOLD 54,370 346,012
------------ ------------
GROSS PROFIT 96,448 135,937
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 281,575 1,251,217
------------ ------------
LOSS FROM OPERATIONS (185,127) (1,115,280)
OTHER INCOME (EXPENSE)
Interest expense (210,517) (6,491)
Foreign exchange gain (loss) (31,771) 19,408
------------ ------------
(242,288) 12,917
------------ ------------
LOSS BEFORE PROVISION FOR INCOME TAXES (427,415) (1,102,363)
PROVISION FOR INCOME TAXES - 800
------------ ------------
NET LOSS $ (427,415) $(1,103,163)
============ ============
BASIC AND DILUTED NET LOSS PER COMMON SHARE $ (0.02) $ (0.06)
============ ============
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER
OF COMMON SHARES OUTSTANDING 20,587,000 19,992,000
============ ============
(FORMERLY THE FURNISHING CLUB)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2005 AND 2004
==================================================
UNAUDITED
2005 2004
------------ ------------
<S> <C> <C>
NET SALES $ 150,818 $ 481,949
COST OF GOODS SOLD 54,370 346,012
------------ ------------
GROSS PROFIT 96,448 135,937
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 281,575 1,251,217
------------ ------------
LOSS FROM OPERATIONS (185,127) (1,115,280)
OTHER INCOME (EXPENSE)
Interest expense (210,517) (6,491)
Foreign exchange gain (loss) (31,771) 19,408
------------ ------------
(242,288) 12,917
------------ ------------
LOSS BEFORE PROVISION FOR INCOME TAXES (427,415) (1,102,363)
PROVISION FOR INCOME TAXES - 800
------------ ------------
NET LOSS $ (427,415) $(1,103,163)
============ ============
BASIC AND DILUTED NET LOSS PER COMMON SHARE $ (0.02) $ (0.06)
============ ============
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER
OF COMMON SHARES OUTSTANDING 20,587,000 19,992,000
============ ============