KUTG 10-Q (Q1 2019) is out: https://www.sec.gov/Archives/edgar/data/1662684/000114420419026023/tv520650_10q.htm
For 3 months ended March 31, 2019 KUTG generated $194,952 in revenue for a gross profit of $133,435 (Gross margin: 68%). Total Operating Expenses of $698,683 or loss from operations of $565,248.
Some Key Takeaways from 10-Q:
1) By leveraging our proprietary cooling solutions and that have been developed through longstanding partnerships with NASA, the Jet Propulsion Lab and others, our products and services make E-Mobility products and other products safer and more stable. Our management believes that the E-Mobility industry has created and will create significant new opportunities for the application of our technology and know-how.
2) After strenuous testing, we believe we have developed heat management solutions that significantly improve upon traditional heat storage and dissipation solutions and that improve upon their rigidity and durability. We also believe that the traditional solutions are not equipped to handle the evolving marketplace. However, through a combination of custom design services and provision of proprietary hardware solutions, our products reduce manufacturing complexity and provide a lighter weight solution than traditional thermal management materials and, we believe, can meet the heat management demands of components and batteries being designed into the newest mobile technologies and applications.
3) Our customers and prospective customers are large organizations with multiple levels of management, controls/procedures, and contract evaluation/authorization. Furthermore, our solutions are new and do not necessarily fit into pre-existing patterns of purchase commitment. Accordingly, the business activity cycle between expression of initial customer interest to shipping, acceptance and billing can be lengthy, unpredictable and lumpy, which can influence the timing, consistency and reporting of sales growth.