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Posted On: 02/19/2019 5:40:05 PM
Post# of 865
Re: USMC Eagle #644
Quarterly report is out!
https://seekingalpha.com/filing/4361759?app=1
Cash $ 207,611
Revenue $ 57,476
During the three months ended December 31, 2018, we generated revenue of $57,476 and our cost of goods sold was $41,293, resulting in gross profit of $16,183. We incurred total operating expenses of $480,695, interest expense of $784,892, a loss on change in the fair value of a derivative in the amount of $534,387, and a net loss of $1,783,791. By comparison, during the three months ended December 31, 2017, we generated revenue of $1,852 and our cost of goods sold was $907, resulting in gross profit of $945. We incurred operating expenses of $140,090, interest expense of $1,459 and we recorded a net loss of $140,604.
Our revenues increased significantly compared to the same periods last year due to increased product distribution and sales. Our operating expenses also increased significantly due primarily to consulting fees incurred in the amount of $1,054,813 and an inventory impairment of $35,387, with other expense items being roughly comparable.
We expect that our expenses, as well as our revenues, will continue to increase over the current fiscal year as we work to expand sales and distribution of our products.
https://seekingalpha.com/filing/4361759?app=1
Cash $ 207,611
Revenue $ 57,476
During the three months ended December 31, 2018, we generated revenue of $57,476 and our cost of goods sold was $41,293, resulting in gross profit of $16,183. We incurred total operating expenses of $480,695, interest expense of $784,892, a loss on change in the fair value of a derivative in the amount of $534,387, and a net loss of $1,783,791. By comparison, during the three months ended December 31, 2017, we generated revenue of $1,852 and our cost of goods sold was $907, resulting in gross profit of $945. We incurred operating expenses of $140,090, interest expense of $1,459 and we recorded a net loss of $140,604.
Our revenues increased significantly compared to the same periods last year due to increased product distribution and sales. Our operating expenses also increased significantly due primarily to consulting fees incurred in the amount of $1,054,813 and an inventory impairment of $35,387, with other expense items being roughly comparable.
We expect that our expenses, as well as our revenues, will continue to increase over the current fiscal year as we work to expand sales and distribution of our products.
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