Integrated Environmental Tech. (fka IEVM)

[MSU]

Net Loss. For the year ended December 31, 2014, the Company’s net loss was $2,234,168, as compared to $1,831,253 for the year ended December 31, 2013. The $402,915, or 22%, increase in the net loss for the year ended December 31, 2014 was primarily attributable to a $337,323 increase in sales and marketing expenses, a $54,477 increase in general and administrative expenses, a $54,476 increase in research and development expenses and a $29,475 increase in cost of sales, offset by a $39,211 increase in revenue and a $36,035 increase in interest and other income.