Sales force expansion was a big factor in lack of profits for the qtr, but as folks have noted, that's usual for early stage growth cos., and this one is growing fast.
I like this line from the report:
At November 30, 2016, cash increased significantly to $2.00 million compared to $0.30 million as of November 30, 2015. Total debt was reduced to $55,000 compared to $0.20 million in the first fiscal quarter of 2016.
Obviously, the cash infusion was from a dilutive stock offering, but it sure makes the balance sheet look stronger to any prospective investor... especially with just such a tiny amount of debt on the books.
As for the last financial item on their report:
NON-CASH INVESTING AND FINANCING ACTIVITIES
Prepaid services paid in stock $103,617
I assume that is for stock-promotion services? If so, as the company gets better known to the investment community, i presume there won't be any need for expenses like this...
I still have a small remnant of about 700 shares at 2.64 basis after selling 3200 at 3.45 in early Dec. (bought a few weeks earlier at 2.42 avg).
I will definitely buy more if this dips into mid-or low-2s again.
In any case, i certainly want to have more shares of this one for the longer term as all those new US states become involved this year and beyond-- and further states in coming years.....
