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Vivid Learning Systems, Inc. Symbol:  VVDL Click here for a printable version Business Summary: Vivid Learning Systems, Inc. develops and delivers computer-based compliance training products and services, and interactive communications programs in the United States and internationally. It offers online training programs through its Web site learnatvivid.   Address   723 The Parkway   Richland , WA 99352   Phone: 509-943-5319   Website: http://www.learnatvivid.com Auditor   Williams &amp; Webster Transfer Agent   Continental Stock Transfer &amp; Trust Co. Employees:  45 ShareHolders:  326 Founded:  1995 Domicile:  Delaware      S & P Disclaimer   Vivid Learning Systems, Inc. Symbol:  VVDL Click here for a printable version Vivid Learning Systems, Inc. develops and delivers computer-based compliance training products and services, and interactive communications programs in the United States and internationally. It offers online training programs through its Web site learnatvivid.com for the general manufacturing, utility, healthcare, mining, food safety, government, and education industries. It markets its products and services directly through an in-house sales team, as well as through channel sales partners, including independent resellers, value-added resellers, associations, and consultants. The company also offers a suite of marketing, advertising, and custom training programs in health care, food processing, science and technology, manufacturing, and mining. As of September 30, 2007, Vivid Learning Systems produced approximately 300 online lessons. The company was incorporated in 1995 and is based in Pasco, Washington. History:  INCORPORATED in Delaware Dec. 24, 2003; and in December 2003 acquired Vivid Learning Systems, Inc., a Washington corporation (Vivid WA), from Nuvotec, Inc. for 8,100,000 Common shares. Vivid WA was incorporated in Washington Mar. 2, 1995, as Applied Tecknowledgey, Inc.; name changed to Vivid Concepts, Inc. Apr. 3, 1997, and to Vivid Learning Systems, Inc. Feb. 23, 2000.   Subsidiaries: ImageWorks Media Group, Inc. Vivid Learning Systems, Inc. (Washington)     Capital Expenditures, thousand. US Dollars   Year   Amount   2008   71   2007   54   2006   37        S & P Disclaimer   Vivid Learning Systems, Inc. Symbol:  VVDL Click here for a printable version Management Officers Position  Andrew A. Thoresen Chairman  Matthew J. Hammer President &amp; Chief Executive Officer  Robert M. Blodgett Secretary, Treasurer, Chief Financial Officer &amp; Chief Accounting Officer  Sandra I. Muller General Counsel &amp; Investor Relations Contact Directors  Robert L. Ferguson  William N. Lampson  Edward C. Reinhart  Diehl R. Rettig  Andrew A. Thoresen      S & P Disclaimer   Vivid Learning Systems, Inc. Symbol:  VVDL Click here for a printable version   Capitalization as of 09/30/2008:     Authorized Shares Outstanding Shares Preferred $0.0001 par 5,000,000 None Common $0.0001 par 200,000,000 13,372,165   LONG TERM DEBT: $134,095,000.   Common $0.0001 par   Stockholders:  10/07/2008, 326. Transfer Agent:  Continental Stock Transfer &amp; Trust Co.   New York , NY   OTC Bulletin Board( Primary): VVDL   Exchange Year High Low OTC Bulletin Board 2008 0.3500 0.0500 OTC Bulletin Board 2007 0.5000 0.1300 OTC Bulletin Board 2006 1.5100 0.1700 OTC Bulletin Board 2005 1.2500 0.2000   RECENT DIVIDENDS: Common $0.0001 par: None.        S & P Disclaimer   Vivid Learning Systems, Inc. Symbol:  VVDL Click here for a printable version Annual Report   Income Statement   2008 2007 REVENUES Custom Products and Services, Fluor Hanford 107,796 506,972 Training Subscriptions 2,614,766 2,516,291 Training Subscriptions, Fluor Hanford 554,197 569,456 Custom Products and Services 1,950,477 2,463,483 Total Revenues 5,227,236 6,056,202 EXPENSES Custom Products and Services (1,283,002) (1,766,757) Training Subscriptions (902,989) (672,740) Wages and Contract Labor (382,101) (896,969) Reseller Commissions (382,897) (394,711) Marketing and Related Labor Expenses (1,275,948) (1,401,739) Bad Debts Expenses (14,799) (12,426) Other Operating Expenses (345,329) (1,100,695) Depreciation and Amortization (100,315) (738,769) Interest Expense (35,887) (49,105) Interest Income 4,099 1,307 Other Miscellaneous Income 175 Gain <loss> on Sale of Equipment and Intangible Assets 100 (1,733) Earnings before Taxes 508,343 (978,135) TAXES AND OTHER EXPENSES Provision for Income Tax 172,837 (332,566) Net Income (Loss) 335,506 (645,569) Basic and Diluted Eps- 0.03 (0.05)   Balance Sheet   2008 2007 Assets- CURRENT ASSETS Cash 132,391 80,331 Accounts and Contract Receivables 972,151 1,157,418 Accounts and Contracts Receivable, Fluor Hanford 24,994 28,822 Prepaid Expenses 185,793 120,073 Other Current Assets 138,214 186,534 Total Current Assets 1,453,543 1,573,178 NON CURRENT ASSETS Total Property, Plant and Equipment 335,954 365,611 Deferred Tax Assets 665,596 838,433 Long-term Contract Receivables 1,321 85,202 Goodwill 375,000 375,000 Software, Net of Amortization 1,229,722 1,328,424 Total Assets 4,061,136 4,565,848 CURRENT LIABILITIES Accounts Payable 120,807 295,376 Accrued Contract Labor 100,933 221,374 Note Payable-related Parties 25,000 350,000 Line of Credit Payable 57,072 Current Portion of Long-term Liabilities 108,341 106,638 Unearned Revenue 100,518 118,654 Other Current Liabilities 46,811 114,667 Total Current Liabilities 502,410 1,263,781 NON CURRENT LIABILITIES Long-term Debt 134,095 182,786 Other Long-term Liabilities 116,709 170,954 SHAREHOLDERS' EQUITY Common Stock-par Value 1,337 1,337 Additional Paid in Capital 4,408,564 4,384,475 Accumulated Deficit (1,101,979) (1,437,485) Total Shareholders Equity 3,307,922 2,948,327 Total Liabilities &amp; Shareholders Equity 4,061,136 4,565,848      S & P Disclaimer   Vivid Learning Systems, Inc. Symbol:  VVDL Click here for a printable version Interim Report      Data Not Available            S & P Disclaimer   Vivid Learning Systems, Inc. Symbol:  VVDL Click here for a printable version Pro Forma Report      Data Not Available            S & P Disclaimer   Vivid Learning Systems, Inc. Symbol:  VVDL Click here for a printable version Quarterly Report Information      Quarterly Revenue, US$ Year Quarter Revenue   2008   1 1,300,000   2008   2 1,330,000   2008   3 1,280,000   2008   4 1,310,000   2008   Full Year 5,230,000   2007   1 1,490,000   2007   2 1,420,000   2007   3 1,500,000   2007   4 1,650,000   2007   Full Year 6,060,000   2006   1 1,050,000   2006   2 890,000   2006   3 990,000   2006   Full Year 4,140,000   2005   3 770,000   2005   Full Year 3,590,000   2004   Full Year 4,600,000   2003   Full Year 3,900,000     Quarterly Net Income, US$ Year Quarter Revenue   2008   1 130,000   2008   2 60,000   2008   3 40,000   2008   4 110,000   2008   Full Year 340,000   2007   1 (50,000)   2007   2 (130,000)   2007   3 (130,000)   2007   4 (340,000)   2007   Full Year (650,000)   2006   1 40,000   2006   2 (160,000)   2006   3 (50,000)   2006   Full Year (147,021,000)   2005   3 (260,000)   2005   Full Year (976,800)   2004   Full Year 290,000   2003   Full Year 540,000     Quarterly EPS, US$ Year Quarter Revenue   2008   1 .01   2008   2 Nil   2008   3 Nil   2008   4 .01   2008   Full Year .03   2007   1 Nil   2007   2 (.01)   2007   3 (.01)   2007   4 (.03)   2007   Full Year (.05)   2006   1 Nil   2006   2 (.01)   2006   3 Nil   2006   Full Year (.01)   2005   3 (.03)   2005   Full Year (.10)   2004   Full Year .03   2003   Full Year .07      S & P Disclaimer