Followers | 63 |
Posts | 3186 |
Boards Moderated | 0 |
Alias Born | 02/21/2014 |
Tuesday, April 25, 2017 10:32:34 PM
Their capital structure is an absolute mess. It appears that more excessive dilution will continue to plague RMHB shareholders.
Their financials are a disaster.
From the recent 10-K:
Three Months Ended December 31, 2016 Compared to Three Months Ended December 31, 2015
Financial Summary
The Company’s sales for the three months ended December 31, 2016 were $24,751 compared to $313,116 for the three months ended December 31, 2015. The sales decrease was driven by a decrease in distributor sales in 2016.
The Company’s net loss for the three months ended December 31, 2016 was $2,410,416 compared to net income of $2,336,289 for the three months ended December 31, 2015.
Sales
For the three months ended December 31, 2016 sales were $24,751 compared to $313,116 for the three months ended December 31, 2015, a decrease of $288,365 or 92%. The sales decrease was driven by management’s focus on closing the LSW Holdings purchase of the control block of the Preferred Series A shares, the lack of inventory of our more popular flavors to sell, and a restructuring of our brokerage agreements with our outside brokers. In the three months ended December 31, 2016 sales consisted of approximately 71% online sales and 29% distributor sales compared to 97% distributor sales and 3% online sales for the three months ended December 31, 2015.
Cost of Sales
For the three months ended December 31, 2016, cost of sales was $37,456 or 151% of sales, compared to $171,937 or 55% of sales, for the three months ended December 31, 2015, a decrease of $134,481 or 78%. Cost of sales increased as a percentage of sales in 2016 as a result of the $28,837 write-off of the Company’s expired brownie inventory.
The posters on the RMHB message board are looking for Gerry to lead them to the promised land. Unfortunately, this company is no Celsius Holdings, Inc., nor will it likely ever become one. We wish him well, though.
"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." ~ Arthur Schopenhauer
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