Jovita Baltrusaityte

Even Internet Security Essentials Unable to Help Bullzi Security (PINK:BLLZ)

by Jovita Baltrusaityte March 18, 2011

bullzi_security.jpgThe financial side of the company also rises some doubts. As the annual report indicates, in a single year, the current assets of the company went down from $343 thousand in 2009 to $118 thousand in 2010. At the same time, total current liabilities decreased by 56% (from $451,303 in 2009 to $200,256 in 2010). BLLZ is still unable to cover its expenses, which are almost double than assets.

In the meantime, gross profit went down by 12%. At the same time, as of 2010 net income is $76,042, compared to net loss of $29,155 in the year 2009. Thus, the overall situation of the company does not look very bright. If the board of directors decide to change the business plan, maybe we will see better results next year.

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