NETWORK 1 FINANCIAL GROUP, INC. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - May 16, 2012

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v2.4.0.6
Statements of Operations (USD $)
 3 Months Ended 9 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Mar. 31, 2012
Mar. 31, 2011
Revenues        
Commissions $ 338,796 $ 266,290 $ 1,075,986 $ 663,028
Net dealer inventory gains 46,439 (170,625) 218,111 154,075
Investment banking 107,250 99,262 211,850 227,425
Interest and Dividends 1,617 5,875 9,531 18,973
Transfer fees and clearing services 599 4,827 599 11,460
Investment advisory 109,795 93,377 251,373 478,493
Other 2,000 26,450 2,335 62,950
Total Revenues 606,496 325,456 1,769,785 1,616,404
Operating Expenses        
Commissions 304,833 534,247 824,981 699,717
Compensation and Related Expenses 187,393 220,751 570,409 758,212
Clearing Fees 13,894 41,788 101,907 141,936
Communications and data processing 29,099 44,031 84,308 117,184
Interest 580 609 1,745 4,683
Occupancy and related expenses 26,189 54,616 95,161 150,684
Office Expenses 44,446 24,371 159,423 133,001
Professional Fees 51,865 57,774 228,162 255,370
Depreciation 3,108    8,022 3,879
Total Operating Expenses 661,337 978,187 2,074,118 2,264,666
Loss from Operations (54,841) (652,731) (304,333) (648,262)
Gain (Loss) on change in derivative liability    8,541    21,723
Total Other Income (expenses)    8,541    21,723
Net Loss (54,841) (644,190) (304,333) (626,539)
Loss/Income attributable to non-controlling interest           
Net loss attributable to common shareholders $ (54,841) $ (644,190) $ (304,333) $ (626,539)
Loss per common share (basic and diluted) $ (0.001) $ (0.016) $ (0.006) $ (0.019)
Weighted Average Number of Common Shares Outstanding 48,106,415 41,228,408 48,616,875 32,435,075

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