v2.4.0.6

Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) (USD $)	3 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Operating revenues:
Software license fees	$ 1,381,118	$ 1,172,654
Revenues from communications airtime and devices		2
Total operating revenues	1,381,118	1,172,656
Cost of operating revenues:
Software license fees	776,868	736,766
Communications air time
Total cost of operating revenues	776,868	736,766
Gross profit	604,250	435,890
Operating expenses:
Selling, general and administrative expenses (including stock-based compensation of $394,345 and $567,645, respectively)	959,827	1,118,526
Total operating expenses	959,827	1,118,526
Loss from operations	(355,577)	(682,636)
Income/(expense) from revaluation of liability for common stock purchase warrants	388,625	(450,954)
Interest income	67	20
Interest expense		(10)
Income (loss) before income taxes	33,115	(1,133,580)
Income taxes (benefit)
Net income (loss)	33,115	(1,133,580)
Net income (loss) per share - basic and diluted	$ 0.00	$ (0.03)
Weighted average number of shares outstanding - basic and diluted	46,958,824	40,289,425
Comprehensive income (loss)
Net income (loss)	33,115	(1,133,580)
Foreign currency translation adjustment	21,148	(3,690)
Comprehensive income (loss)	$ 54,263	$ (1,137,270)

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

VOICESERVE INC 10-Q