With some of the negative games lately, just wanted to post a reminder from last quarter, since we are coming up on Q4 numbers
Bitzio, Inc. (OTCQB: BTZO), a fashion company operating under the name Democratique, today announced financial results for the third quarter ended September 30, 2014. The following are highlights from the Company’s recently filed 10Q:
• Q3 Revenue of $208,000, up 20x over prior year’s quarter
• Strong gross margin of $159,000, or 76% of revenues
• $345,000 in current assets to support quarterly growth
Total revenue for the third quarter ended September 30, 2014 increased to approximately $208,000, compared to approximately $10,000 in the prior year quarter. Gross margin for the third quarter increased to approximately $159,000, versus 0 in the prior year quarter. The increase in revenues and gross margin are attributable to completion of the acquisitions of Lexi Luu Designs Inc. (www.lexiluu.com) and E-Motion Apparel Inc. (www.emotionapparelinc.com), both of which were completed in mid-July 2014. The results presented only include the timeframe from the purchase of each of these entities through September 30, 2014. Net income attributable to Bitzio for the quarter was approximately $37,000, which reflects a one-time gain on a derivative liability approximately $440,000
