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First Foods Group, Inc. Reports Second Quarter Revenue
FIFG Revenue Growth
Revenue Grew by 42% to $85,510 for the three months ended June 30, 2018.
Nonconvertible Debt Grew by 157% to $460,134 as of June 30, 2018. The Company has no convertible debt.
Results Were Positively Impacted by Syndicated Participation in Merchant Cash Advances, Which Grew by 178% to $411,512 as of June 30, 2018.
New York, NY, Aug. 14, 2018 (GLOBE NEWSWIRE) -- FirstFoods Group, Inc. (OTCQB: FIFG) (the “Company”), a fully reporting entity with growing interests in the food and food service industry, yesterday reported GAAP revenue of $85,510 for the second fiscal quarter of 2018, representing an increase of 42% over the GAAP revenue of $60,295 reported for the first fiscal quarter of 2018. The Company’s nonconvertible debt grew 157% to $460,134 as of June 30, 2018 from $179,333 as of December 31, 2017. The Company has no convertible debt. The Company has deployed it’s available funds by increasing its syndicated participation in merchant cash advances by 178% to $411,512 as of June 30, 2018 from $148,253 as of December 31, 2017. Overall, the Company’s net cash provided by financing activities grew by 81% to $265,320 for the six months ended June 30, 2018 from $146,450 for the six months ended June 30, 2017. The Company’s financial results are supporting the expansion of its Holy Cacao subsidiary, which is currently finalizing negotiations to produce high-end chocolate that will be sold and distributed to the edibles market using The Company’s trademarked brand and packaging.
