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Posted On: 02/28/2020 6:57:29 AM
Post# of 43879
$GEIN The Highlights from Operations for the quarter ended December 31, 2019:
- For the three months ended December 31, 2019, we earned revenue of $133,923. During the current period we were engaged in opening our new Florida facility and making it fully operational. - Gross Margins were 44% for all products and services for the three months ended December 31, 2019. Gross Profit was $58,597. - We recorded a large non-cash expense for stock compensation which reduced the net income. - Total Assets recorded at December 31, 2019 were higher at $733,506 a considerable change compared to the prior period. - EBITDA and before Stock Compensation was $49,971 for the quarter ended December 31, 2019.
ManagementCommentary
"We are happy to announce that we had positive cash flows and EBITDA recorded was $ 49,971 for the quarter.Our results for the quarter ending December 31, 2019 were slightly impacted as we achieved a big milestone in opening our new Florida facility. There were many onetime expenses associated with getting the facility operational including logistics, professional rigging services and new machinery purchases and movement. Production activities have commenced out of this new facility and expect to bring a positive impact in the next two quarters. Our Fixed Assets have also increased with the addition of new machinery"
- For the three months ended December 31, 2019, we earned revenue of $133,923. During the current period we were engaged in opening our new Florida facility and making it fully operational. - Gross Margins were 44% for all products and services for the three months ended December 31, 2019. Gross Profit was $58,597. - We recorded a large non-cash expense for stock compensation which reduced the net income. - Total Assets recorded at December 31, 2019 were higher at $733,506 a considerable change compared to the prior period. - EBITDA and before Stock Compensation was $49,971 for the quarter ended December 31, 2019.
ManagementCommentary
"We are happy to announce that we had positive cash flows and EBITDA recorded was $ 49,971 for the quarter.Our results for the quarter ending December 31, 2019 were slightly impacted as we achieved a big milestone in opening our new Florida facility. There were many onetime expenses associated with getting the facility operational including logistics, professional rigging services and new machinery purchases and movement. Production activities have commenced out of this new facility and expect to bring a positive impact in the next two quarters. Our Fixed Assets have also increased with the addition of new machinery"
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