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Saturday, October 13, 2018 3:19:40 PM
https://backend.otcmarkets.com/otcapi/company/financial-report/200062/content
Page 4 of Annual Report shows the profit on operations for the year without the $600,000 charge that was moved to Q1 of 2018
https://backend.otcmarkets.com/otcapi/company/financial-report/193498/content
Page 3...
Sales $ 61,719
Special promotion program with customer 597,138
Income (loss) from operations (765,384)
So the loss from operations for Q1 of this year - 2018 was $765,384
Now, let's check quarter 2 and see if it's any better
https://backend.otcmarkets.com/otcapi/company/financial-report/199803/content
Sales $ 143,551
Total operating expenses $359,057
Income (loss) from operations (297,350)
So now we are up to this number for 6 months operating expenses losses including the $600,000 charge! ($1,062,734)
So to do another analysis, let's calculate the losses on operations without the $600,000 special charge and see just what revenue it will take to break even...
2018 - 6 month sales were 205,270 and gross profits were $86,018 - therefore profit margin % is 42% of revenues... Now the expenses without the special charge are $1,062,734 minus $600,000 = $462,734 for 6 months 2018.
So simply divide $462,734 by .42 and you get the revenue needed cover 6 month expenses for the last 2 quarters, assuming the expenses are about the same...
So the answer is $1,101,747 in 2nd half 2018 REVENUE will be needed to break even in the 2nd half, assuming expenses don't increase, as a result of the increased sales....
But wait... There is still the problem of the first half loss of $1,062,734 that is already on the books, so if NET PROFITS for 2018 is the goal, then revenue must increase enough to make that much more profit in the 2nd half... Therefore $1,062,734 divided by .42 = Therefore an additional $2,530,319 in 2nd half 2018 REVENUES will be needed to cover first half losses. So now the TOTAL REVENUE needed for the second half of 2018 will be $3,632,066 in order to break even.
Good Luck!
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