Here are just a few highlights from the Q for starters and you can see why the buyers are back today
Q2 vs Q3
Cash on hand $518k $593K
Acct receivable $8.5M $11M
Inventory $78K $105k
Acct Recievable Longterm $3M $4.5M
Acct Payable $607k $453k
Notes payable $5.3M $3.1M
Settlement Liab $700k $100k
Total shareholder
Equity $-3.5M $+70K
Expenses
Q2 vs Q3
Selling and Marketing
12.7M vs 9M
Operating income
8.5M vs 12M
Loss on extinguishment of debt (a good thing)
0 Vs (231K)
If you wonder how sales are doing so far in Q4, look what I found...
Pharmaceutical compounding material purchases
to the end of Q1 = $272,090
to the end of Q2 = $952,813 ( a $680,000 increase over Q1)
To the end of Q3 = $1,714,679 ( an additional $762,000 increase over Q2) NICE TREND
MORE VERY EXCITING THINGS I FOUND
1. The Q2 10Q shows nothing for unaccounted accounts receivable yet Q3 10Q has a whole section. It shows accounts receivable gross of $35.7M minus $20M in allowance for doubtful accounts and another $4.4M for the long term portion. That leaves just under $11 Million that could be coming to the bottom line for Q4...??
2. Gross billing sold to factoring for the Q were $40 Million yet the gross billings were $49.6 Million. That looks to me like they are in house collecting approx. $9.6 million so far.
THIS IS HUGE FOR Q4... TPS share issuance now complete and this cash can go on the bottom line if pxyn just does the same in sales they will have a bottom line of almost $12 Million profit due to not having the $11.3 Million in TPS shares...
Quote:
Our selling and marketing expense for the nine months ended September 30, 2014 was $29,134,507, $11,391,301 of which was stock-based. For the comparable period in 2013, selling and marketing expense was $945,000, none of which was stock-based. The stock-based expense results mainly from the issuance of Series D Preferred shares to TPS under our January 23, 2014 agreement with them( which is now complete)
More....
Lease is now 6000 sq ft
Leasehold improvements
Q2 = $24.7K when they did their lab expansion
Q3 = $39.4K...Looks like they may have expanded more??
Computer equipment went up by almost $5000 as well
Q2 = 26.8K
Q3 = 31.4K
(This likely due to in house billing)
Net profit also up Q3 to %531K when interest from notes are included
