Another big take away in the latest 10-Q,,, Oper
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Posted On: 07/30/2017 3:30:00 PM
Re: OldSaltDawg #317
Another big take away in the latest 10-Q,,,
Operating Expenses
For the three and six months ended April 30, 2017, we incurred operating expenses in the amounts of $9,259,133 and $9,495,681, respectively. We had no operating expenses incurred during the three and six months ended April 30, 2016. Our operating expenses were comprised of: (i) consulting services expenses of $6,640 and $32,305 for the three and six months ended April 30, 2017, respectively (ii) general and administrative expenses of $484,044 and $576,085 for the three and six months ended April 30, 2017, respectively, and (iii) wage expenses of $8,768,449 and $8,887,291 for three and six months ended April 30, 2017, respectively. Due to a reverse merger into an operating company with no prior operations in April of 2016, there are no prior period expenses.
Net Loss
Our net loss for the three and six months ended April 30, 2017 was $9,647,118 and $10,625,937, respectively. The increase in net loss was the result of the increase in compensation and above mentioned costs. Due to a reverse merger into an operating company with no prior operations in April of 2016, there are no prior period expenses. During the three months ended April 30, 2017, we also incurred an income of $11,927 for a gain on change of the derivative liability, offset by the interest expense of $400,332. During the six months ended April 30, 2017, we had an expense of $250,928 for a loss on change of the derivative liability and $890,338 in interest expense. We had nothing in the comparable period in the prior year.
Operating Expenses
For the three and six months ended April 30, 2017, we incurred operating expenses in the amounts of $9,259,133 and $9,495,681, respectively. We had no operating expenses incurred during the three and six months ended April 30, 2016. Our operating expenses were comprised of: (i) consulting services expenses of $6,640 and $32,305 for the three and six months ended April 30, 2017, respectively (ii) general and administrative expenses of $484,044 and $576,085 for the three and six months ended April 30, 2017, respectively, and (iii) wage expenses of $8,768,449 and $8,887,291 for three and six months ended April 30, 2017, respectively. Due to a reverse merger into an operating company with no prior operations in April of 2016, there are no prior period expenses.
Net Loss
Our net loss for the three and six months ended April 30, 2017 was $9,647,118 and $10,625,937, respectively. The increase in net loss was the result of the increase in compensation and above mentioned costs. Due to a reverse merger into an operating company with no prior operations in April of 2016, there are no prior period expenses. During the three months ended April 30, 2017, we also incurred an income of $11,927 for a gain on change of the derivative liability, offset by the interest expense of $400,332. During the six months ended April 30, 2017, we had an expense of $250,928 for a loss on change of the derivative liability and $890,338 in interest expense. We had nothing in the comparable period in the prior year.
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