The key thing to remember here is that SWK provides all of Trey's revenue, but the Trey financial statements are a fairly complicated set of documents. The word "mess" comes to mind. Revenue is straightforward. Trey's revenue for the most recently ended period was the $1.83 million from SWK, down from $2.1 million a year earlier. The bottom line is more complicated. Trey had $423,925 in net income, up sharply from earnings of $27,045 a year earlier. But the net had nothing to do with operations, which lost $195,285. The bottom line came from a $630,083 gain on the revaluation of derivatives. The other big difference is that SWK has $1.82 million in equity while Trey's March 31 balance sheet shows a stockholder's deficit of $4.5 million.