Quantum Bit Induction Technology, Inc.
Profit & Loss
January through December 2006
						Jan - Dec 06
	Ordinary Income/Expense
		Income
			Interest			550.17
			Sales
				Assets		161,473.44
			Total Sales			161,473.44
			Services
				Programmed Trading		7,500.00
			Total Services			7,500.00
		Total Income				169,523.61
		Expense
			Christmass Bonus			6,770.00
			Security Monatering			184.62
			State Fees
				Incorporation		333.78
				State Fees - Other		3,375.00
			Total State Fees			3,708.78
			Name Reservation			40.00
			FXDD			200.00
			Medical			21,822.97
			Document retrieval			7.19
			Cleaning Service			960.00
			Consulting			6,611.13
			Uncategorized Expenses			13,581.87
			Parts			365.41
			Automobile Expense
				Insurance		1,571.00
				repairs		2,587.20
				Automobile Expense - Other		-12,285.70
			Total Automobile Expense			-8,127.50
			Bank/Credit Service Charges			444.84
			Compensation of Officers			34,500.00
			Computer/Internet
				hardware		417.73
				Software		319.65
				Internet / Web		72.00
				Programming		780.00
			Total Computer/Internet			1,589.38
			Marketing
				Art Work		11,350.00
				art supplies		61.06
				Mailing List		239.88
			Total Marketing			11,650.94
			Miscellaneous			862.98
			Office Supplies
				Furniture		1,253.77
				Office Supplies - Other		1,365.34
			Total Office Supplies			2,619.11
			Postage and Delivery
				mail box		941.36
				Postage and Delivery - Other		637.86
			Total Postage and Delivery			1,579.22
			Printing and Reproduction			212.89
			Professional Services
				Project work		11,064.01
				Animation/Rendering		400.00
				Public Relations
					News Releases	3,075.00
					Public Relations - Other	7,775.00
				Total Public Relations		10,850.00
				Accounting		3,250.00
				Financial		25,469.78
				Legal Fees		9,468.80
				Payroll Services		32,317.31
				Transfer Agent		9,845.70
				Web Development		2,975.00
				Professional Services - Other		15,640.98
			Total Professional Services			121,281.58
			Rent
				Deposit		87.50
				App. fee		195.00
				Late fees		113.00
				Rent - Other		13,133.12
			Total Rent			13,528.62
			Taxes
				Sales
					State & Local	917.78
				Total Sales		917.78
				State		-316.03
			Total Taxes			601.75
			Telephone
				Long Distance		546.90
				Celllular		4,835.29
				Telephone - Other		3,682.08
			Total Telephone			9,064.27
			Travel & Ent
				Shareholder realations		336.90
				Entertainment		182.14
				Meals		6,638.69
				Travel & Ent - Other		58,530.00
			Total Travel & Ent			65,687.73
			Utilities
				cable		613.75
				Gas and Electric		2,782.60
				Water		131.40
			Total Utilities			3,527.75
		Total Expense				313,275.53
	Net Ordinary Income					-143,751.92
	Other Income/Expense
		Other Income
			Other Income			2,260.81
		Total Other Income				2,260.81
		Other Expense
			Balance Adjustment			10,971.76
			void			0.00
			Other Expenses			19,376.08
		Total Other Expense				30,347.84
	Net Other Income					-28,087.03
Net Income						-171,838.95