Red Cat Holdings Inc (RCAT)

[Schmedrickk]

Total revenue for the three months ended September 30, 2016 and 2015 was $0. Operating expenses in the quarter ended September 30, 2016 amounted to $592,538 as compared to $132,396 for the quarter ended September 30, 2015. The increase in operating expenses is primarily due to expenses related to the merger transaction. The net loss for the three months ended September 30, 2016 was $596,824 as compared to $133,083 for the quarter ended September 30, 2015, the difference being primarily due to the merger-related costs.

Hey, it requires a lot of money to print, staple, and Fed-Ex documents back and forth, lol