Operating Loss
Our operating loss for the three months ended June 30, 2016 was $1,114,508, compared to $783,625 during the three months ended June 30, 2015, an increase of $330,883, or 42%. Our operating loss increased primarily due to the increased stock based compensation of $770,676 during the three months ended June 30, 2016, as diminished by reductions in general and administrative expenses as we aggressively instituted budget cuts in our cannabis testing lab operations to conserve resources, in addition to no longer carrying the consolidated general and administrative expenses of our digital pathology business.
Revenues
Revenues were generated by our cannabis testing lab and our advertising from our National Marijuana News Corp. division. Aggregate revenues for the nine months ended June 30, 2016 were $507,430, compared to revenues of $317,125 during the nine months ended June 30, 2015, an increase of $190,305, or 60%. The revenue in the current period was due to the commencement of our testing lab operations in Nevada and the corresponding growth in our customer base as production and cultivation facilities established their operations, while the comparative period revenues were primarily derived from our digital pathology business that has been divested and is now being presented prospectively on the equity method of accounting. We anticipate steadily increasing lab testing revenues during the remainder of the fiscal year ending September 30, 2016
General and administrative expenses for the nine months ended June 30, 2016 were $726,684, compared to $1,719,054 during the nine months ended June 30, 2015, a decrease of $992,370, or 58%. The expenses consisted primarily of marketing, rent, salaries and wages, and travel expenses. The decrease was primarily due to decreased marketing and officer compensation expenses as we aggressively instituted budget cuts in our cannabis testing lab operations to conserve resources, in addition to no longer carrying the consolidated general and administrative expenses of our digital pathology business.
Net Loss
Net loss for the nine months ended June 30, 2016 was $3,275,066, compared to $3,182,686 during the nine months ended June 30, 2015, an increase of $92,380, or 3%. Our net loss for the nine months ended June 30, 2016 included an aggregate of $2,543,527 of non-cash expenses, compared to $918,873 of non-cash expenses during the comparative nine months ended June 30, 2015, an increase of $1,624,654, or 177%.
