CALL NOW INC

CIK:0000869484|SEC Filings

EARNINGS PER SHARE ATTRIBUTABLE TO CALL NOW, INC.

6 Months Ended

Jun. 30, 2011

NOTE 6 – EARNINGS PER SHARE ATTRIBUTABLE TO CALL NOW, INC.

Basic earnings per share are computed on the basis of the weighted average number of common shares outstanding during each year. Diluted earnings per share are computed on the basis of the weighted average number of common shares and dilutive securities outstanding. Dilutive securities having an anti-dilutive effect on diluted earnings per share are excluded from the calculation.

The following reconciles the components of the earnings per share (EPS) computation.

	Income			Shares	Per Share
	(Numerator)			(Denominator)	Amount
Three Months Ended June 30, 2011
Basic EPS:
Net (loss) attributed to Call Now, Inc.	$	(360,232	)	2,013,877	$	(0.18	)
Effect of dilutive options		-		-		-
Dilutive EPS Attributed to Call Now, Inc.	$	(360,232	)	2,013,877	$	(0.18	)

Three Months Ended June 30, 2010
Basic EPS:
Net (loss) attributed to Call Now, Inc.	$	(372,668	)	2,005,657	$	(0.19	)
Effect of dilutive options		-		-		-
Dilutive EPS Attributed to Call Now, Inc.	$	(372,668	)	2,005,657	$	(0.19	)

Six Months Ended June 30, 2011
Basic EPS:
Net (loss) attributed to Call Now, Inc.	$	(714,960	)	2,013,877	$	(0.36	)
Effect of dilutive options		-		-		-
Dilutive EPS Attributed to Call Now, Inc.	$	(714,960	)	2,013,877	$	(0.36	)

Six Months Ended June 30, 2010
Basic EPS:
Net income attributed to Call Now, Inc.	$	765,653		2,419,190	$	.32
Effect of dilutive options		-		-		-
Dilutive EPS Attributed to Call Now, Inc.	$	765,653		2,419,190	$	.32

Consolidated Statements of Cash Flows (USD $)	6 Months Ended
Consolidated Statements of Cash Flows (USD $)	Jun. 30, 2011	Jun. 30, 2010
Operating Activities
Net income (loss) including non-controlling interest	$ (690,971)	$ 789,653
Adjustments to reconcile net income (loss) to net cash (used) by operating activities:
Net realized (gains) on sales of marketable securities - related party	0	(2,071,963)
Net realized loss on sales of marketable securities - other	0	10,001
Net realized (gains) on sales of long-term investments - other	(38,000)	(12,179)
Bad debt allowance	120,000	120,000
Deferred income taxes	(354,739)	404,873
Depreciation	1,962	1,962
Changes in operating assets and liabilities
Accounts receivable	(120,000)	(120,000)
Other current assets	(108,211)	(107,988)
Accounts payable and accrued expenses	29,262	(108,087)
Net Cash (Used) by Operating Activities	(1,160,697)	(1,093,728)
Investing Activities
Proceeds from sale of note receivable - Retama Development Corp.	0	5,222,893
Proceeds from sales of available-for-sale marketable securities - related party	0	4,480,000
Proceeds from sales of available-for-sale marketable securities - other	0	59,999
Proceeds from sales of other long-term investments	154,278	88,880
Purchase of marketable securities	0	(3,950,000)
Purchase of other long-term investments	0	(214,998)
Net Cash Provided by Investing Activities	154,278	5,686,774
Financing Activities
Proceeds from margin loan - related party	219,773	6,315,825
Payments on margin loan - related party	(4,031)	(13,996,605)
Proceeds from long-term debt - related party	669,800	14,405,403
Purchase of treasury stock - related party	0	(11,404,600)
Sales of treasury stock - related party	0	126,567
Net Cash Provided (Used) by Financing Activities	885,542	(4,553,410)
Net Change in Cash and Cash Equivalents	(120,877)	39,636
Cash and cash equivalents at beginning of year	189,340	17,452
Cash and Cash Equivalents at End of Quarter	68,463	57,088
Supplemental Disclosures
Interest paid in cash	889,573	787,398
Income tax paid in cash	$ 0	$ 0

Consolidated Balance Sheets (USD $)	Jun. 30, 2011	Dec. 31, 2010
ASSETS
Cash and cash equivalents	$ 68,463	$ 189,340
Accounts receivable, net	777,460	777,460
Marketable securities - related party	1,788,591	2,449,509
Marketable securities - other	3,609,799	3,638,437
Other current assets	342,192	232,007
Total current assets	6,586,505	7,286,753
Furniture, Equipment and Improvements (less accumulated depreciation of $11,182 and $9,220 respectively)	8,438	10,401
Other Assets:
Marketable securities - Retama Development Corp.	133,000	133,000
Investments	0	116,279
Notes and interest receivable - Retama Development Corp.	405,515	409,728
Deferred tax asset	2,640,367	2,048,940
Total other assets	3,178,882	2,707,947
Total Assets	9,773,825	10,005,101
LIABILITIES AND EQUITY (DEFICIT)
Accounts payable and accrued expenses	561,798	532,536
Margin loan payable - related party	5,992,761	5,777,021
Deferred taxes payable	0	0
Total current liabilities	6,554,559	6,309,557
Long-term Note Payable and Accrued Interest - Related Party, net of current portion	15,178,550	14,508,750
Equity (Deficit):
Preferred stock, $.001 par value; authorized 266,667 shares, none outstanding	0	0
Common stock, $.001 par value; authorized 16,666,667 shares, 3,327,075 issued and 2,013,877 outstanding	3,327	3,327
Additional paid-in-capital	7,091,120	7,091,120
Treasury stock, at cost, 1,313,198 shares	(14,372,488)	(14,372,488)
Accumulated other comprehensive income (loss)	(652,889)	(197,783)
Retained (deficit)	(4,210,458)	(3,495,497)
Total Call Now stockholders' (deficit)	(12,141,388)	(10,971,321)
Non-controlling interest	182,104	158,115
Total (deficit)	(11,959,284)	(10,813,206)
Total Liabilities and Equity (Deficit)	$ 9,773,825	$ 10,005,101