Revenue for the quarter ended June 30
$5,500
operating expenses
$161,000
Results of Operation for the Six Months Ended June 30, 2016 Compared to the Six Months Ended June 30, 2015
We had revenues in the first six months of 2016 of $17,197 compared to $132,745 in 2015. The decrease in revenue is due to decreased sales.
Our cost of revenue was $8,342 in the first six months of 2016 compared to $78,017 in 2015. The decrease in cost of revenue was as a result of decreased sales. We had a gross profit in the first six months of 2016 of $8,855 compared to $54,728 in the same period of 2015. Again, lack of sales had a direct impact on decreased gross profit margin. Our operating expenses decreased to$184,054 in the first six months of 2016 as compared to $492,149 in 2015. Our loss on operations decreased to $175,199 in the first six months of 2016 compared to $437,421 in 2015. Our net loss was $3,692,513 in the first six months of 2016 compared to $691,181 in the first six months of 2015. All were affected by decreased revenue for the period and the impact of the interest expense from the derivative liability.
Results of Operation for the Three Months Ended June 30, 2016 Compared to the Three Months Ended June 30, 2015
We had revenues in the second quarter of 2016 of $5,570 compared to $49,514 in 2015. The decrease in revenue is due to decreased sales.
Our cost of revenue was $2,965 in the second quarter of 2016 compared to $26,854 in 2015. The decrease in cost of revenue was as a result of decreased sales. We had a gross profit in the second quarter of 2016 of $2,605 compared to $22,660 in the same period of 2015. Again, lack of sales had a direct impact on decreased gross profit margin. Our operating expenses decreased to$161,792 in the second quarter of 2016 as compared to $185,999 in 2015. Our loss on operations decreased to $159,187 in the second quarter of 2016 compared to $163,339 in 2015. Our net loss was $3,591,098 in the second quarter of 2016 compared to $416,683 in the second quarter of 2015. All were affected by decreased revenue for the period and the impact of the interest expense from the derivative liability.
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