Monday, September 28, 2015 11:25:18 PM
STATED IN YOUR ARTICLE: 623196 / 313961 = 1.985
INCORRECT STATEMENT (UNDERLINED) IN YOUR ARTICLE: "The math is correct however when calculated as a percentage 1.985 converts into 198.5% since the decimal is carried over two digits to the right! You don't just say "oh, I'll drop the 1 in the 1.985" and conveniently come to 98.5%. Sorry that's not how math works.
THE 198.5% VALUE IN YOUR ARTICLE IS INCORRECT; THE 98.5% INCREASE IN "GROSS REVENUES" IN MY CALCULATION IS CORRECT. THE FOLLOWING EXPLAINS THIS IN DETAIL...
EXAMPLE OF HOW TO CORRECTLY CALCULATE PERCENTAGE INCREASE:
600000/300000 = 2.00 TIMES OR 600000 IS 2 TIMES 300000. RIGHT?
TAKE 2.00 - 1.00- = 1.00
MULTIPLY 1.00 BY 100 TO GET A 100% INCREASE (EASY TO SEE THAT)
NOW TO CORRECTLY CALCULATE THE PERCENTAGE INCREASE OF ERBB'S 2015 OVER 2014 ANNUAL GROSS REVENUES DO AS FOLLOWS:
ANNUAL 2015 GROSS REVS = $623196
ANNUAL 2014 GROSS REVS = $313961
DECIMAL PERCENTAGE INCREASE = 623196/313961 = 1.985
TO CONVERT TO A PERCENT INCREASE SUBTRACT 1 FROM 1.985 AND MULTIPLY THE RESULTANT BY 100 TO GET 98.5%. ERBB HAS A 98.5% INCREASE IN "GROSS REVENUES"; NOT 198.5% AS INCORRECT STATED IN THE ARTICLE.
THE 198.5% NUMBER IS INCORRECT! A 198.5% INCREASE REPRESENTS AN ALMOST A 3 TIMES INCREASE IN ERBB GROSS REVENUES. CLEARLY, ERBB'S GROSS REVENUES DID NOT INCREASE BY 3 TIMES!!!
WITH RESPECT TO ERBB HAVING A "GROSS PROFIT" IN IT'S ANNUAL REPORT, IT SURELY DID. IT HAD A $105,252 "GROSS PROFIT" PER ANNUAL REPORT EXCERPT SHOWN BELOW. AN ERBB "NET PROFIT" WAS NOT PROVIDED IN ERBB'S 2015 ANNUAL REPORT.
EXCERPT FROM ERBB'S ANNUAL 2015 REPORT BELOW:
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