iLOOKABOUT Corp. Announces Second Quarter Results

LONDON, ONTARIO, August 20 / MARKET WIRE/ -- iLOOKABOUT Corp. ("iLOOKABOUT" or "the Company") (TSX VENTURE: ILA) announced the release of its second quarter results. The Company reported revenue of $185,730 and $366,433 for the three months and six months ended June 30, 2008, respectively. To assist in forecasting future financial resources, the Company monitors revenue backlog. The Company defines revenue backlog as the estimated revenue attributable to the uncompleted portion of signed sales agreements for which future collection is probable, selling price is fixed and determinable, and there is no reason to believe that the Company will be unable to deliver the contracted service. To the extent revenue derived from these sales agreements is recognized in future periods for financial reporting purposes, this recognized... [read full story]