Based on the Pro Forma data on page 110 of the 1

Based on the Pro Forma data on page 110 of the 10K, the revenue wound have been close to a million a month (11M divided by 12 months)...assuming all acquisitions were done in the beginning of the fiscal year...
This is actually pretty encouraging since Gnbt only started selling Excellagen in 6/2019...I am sure gnbt is selling way more Excellagen now.

So the prior quarters’ revenue must have been reversed or reclassified...

It would be helpful if we knew the numbers for the period from 5/1/19 to 7/31/19.



Unaudited Supplemental Pro Forma Data

Unaudited pro forma results of operations for the year ended July 31, 2019 and 2018 as though the Company acquired Veneto, Olaregen and Regentys (the “Acquired Companies”) on the first day of each fiscal year are set forth below.

Year Ended July 31,
2019 2018
Revenues $ 11,217,169 $ 57,137,821
Cost of revenues 4,143,586 19,236,850
Gross profit 7,073,583 37,900,971
Operating expenses 13,338,328 45,146,085
Operating loss (6,264,744 ) (7,245,114 )
Other income (expense) 1,469,732 523,226
Net loss (4,795,012 ) (6,721,888 )
Net loss attributable to noncontrolling interests (1,606,316 ) (230,222 )
Net Income (loss) Available to Common Stockholders (3,188,696 ) (6,491,666 )
Comprehensive net loss $ (3,188,696 ) $ (6,491,666 )
Basic and diluted earnings per share $ (0.05 ) $ (0.29 )