From the most recent Q&A.
2. You reported strong financial results for Q3 with continued sales growthand balance sheet. When do you expect the company to turn profitable?
Our Q3 and YTD results are completely in keeping with our business strategy of accelerating revenues, building our global brand and expanding our technologies. Q3 sales of $5.3M were nearly double that of Q2 and exceeded our
announced projections, and we are very proud of the
team’s effort. Since the start of the year, total sales have exceeded $8.2M and our projection of at least $12M for the full year is considered conservative. Our business development initiatives and the recent acquisition of
strategic assets provide a solid base for further growth in 2014. We expect to complete our annual budgeting process and then to provide some guidance for Q4 in January.
Each individual business unit will be expected to generate profits and positive cash flow and will be measured and accounted for as such. While our corporate overhead is not heavy, we expect to continue to employ highly incentivized professionals to help us growth the company faster and to build long-term value.
Building the platform and expansion is our priority so
profits at the corporate level are difficult to predict.