Quantum Bit Induction Technology, Inc.						11:47 AM
Profit & Loss						39450
January through December 2007						Accrual Basis
						Jan - Dec 07
	Ordinary Income/Expense
		Income
			Interest			1,710.26
			Sales
				Assets		317,889.56
			Total Sales			317,889.56
			Services
				Programmed Trading		15,000.00
			Total Services			15,000.00
		Total Income				334,599.82
		Expense
			CitiCard			-20,000.00
			Christmass Bonus			6,000.00
			Security Monatering			246.16
			State Fees			938.03
			Cleaning Service			1,080.00
			Consulting			28.13
			Other Fees			1,000.00
			Uncategorized Expenses			18,449.08
			Automobile Expense
				Registration		150.60
				Insurance		1,872.40
				repairs		87.33
				Automobile Expense - Other		157.55
			Total Automobile Expense			2,267.88
			Bank/Credit Service Charges			438.95
			Compensation of Officers			359,250.00
			Computer/Internet
				hardware		91.99
				Software		480.51
				Internet / Web		113.80
				Repairs / Maintenance		300.00
				Computer/Internet - Other		68.16
			Total Computer/Internet			1,054.46
			Director's Fees			30,000.00
			Marketing
				Art Work		9,390.00
				art supplies		46.50
				Mailing List		139.93
			Total Marketing			9,576.43
			Materials/Parts			150.00
			Miscellaneous			33.00
			Office Supplies			254.09
			Postage and Delivery
				mail box		1,354.05
				Postage and Delivery - Other		1,241.16
			Total Postage and Delivery			2,595.21
			Professional Services
				Project work		14,796.99
				Public Relations
					News Releases	3,705.00
					Public Relations - Other	18,450.00
				Total Public Relations		22,155.00
				Accounting		350.71
				Financial		2,000.00
				Legal Fees		525.00
				Transfer Agent		11,123.82
				Professional Services - Other		60,968.55
			Total Professional Services			111,920.07
			Rent
				mgmt fee		2.25
				Trash fee		40.25
				Credit		-9.69
				Storage		829.84
				Rent - Other		12,344.86
			Total Rent			13,207.51
			Taxes
				Sales
					State & Local	308.03
				Total Sales		308.03
				Local		22.90
				State		300.00
			Total Taxes			630.93
			Telephone
				Credit		-19.11
				Long Distance		3,353.40
				Celllular		7,069.29
				Telephone - Other		5,553.52
			Total Telephone			15,957.10
			Travel & Ent
				Shareholder realations		13,379.51
				Meals		11,115.63
				Travel		-3,000.00
				Travel & Ent - Other		72,913.48
			Total Travel & Ent			94,408.62
			Utilities
				cable		506.74
				Gas and Electric		3,242.05
				Water		170.02
			Total Utilities			3,918.81
		Total Expense				653,404.46
	Net Ordinary Income					-318,804.64
	Other Income/Expense
		Other Income
			Other Income			1,385.70
		Total Other Income				1,385.70
		Other Expense
			Balance Adjustment			4,207.06
			void			0.00
			Other Expenses			23,737.29
		Total Other Expense				27,944.35
	Net Other Income					-26,558.65
Net Income						-345,363.29