![](https://investorshub.advfn.com/uicon/710573.png?cb=1589984294)
Friday, May 24, 2019 7:17:45 PM
****KEEP THIS NAME ON CLOSE WATCH, SPECULATION ON A GOOGLE PARTNERSHIP COMING TO FRUITION IS NOT BAKED INTO THE STOCK****
Earnings report Highlights
Revenues for the three months ended March 31, 2019 decreased by $0.38 million, or 3%, as compared to the three months ended March 31, 2018, mainly because we did not pursue certain low margin, professional services business during the three months ended March 31, 2019.
Our gross margin was 20% for the three months ended March 31, 2019, as compared to 21% for the three months ended March 31, 2018. The decrease in gross margin was due to one project related to solution based revenue which has lower margins, and no such revenue was applicable for the comparable period of 2018.
Our operating loss was $1.3 million for the three months ended March 31, 2019, as compared to $1.4 million for the three months ended March 31, 2018.
Our cash position was approximately $1.7 million as of March 31, 2019, as compared to $1.4 million as of December 31, 2018, an increase of approximately $0.3 million primarily due to the funds received from exercise of warrants.
We incurred recurring losses as a result of costs and expenses related to our selling, general and administration activities and acquisition strategy. As of March 31, 2019, we had negative working capital of $3.2 million and cash of $1.7 million. Historically, our principal sources of cash have included bank borrowings and sales of securities. Our operating expenses are likely to continue to grow and, as a result, we will need to generate significant additional revenues to cover such expenses.
![](http://investorshub.advfn.com/uimage/uploads/2019/5/24/sraahamrh-5-24-19.gif)
Official InvestorsHub (IHUB) Profile for TopMarketGainers.com. Since 2009,
we are the #1 Source For #FREE Winning #NASDAQ & #NYSE-Listed Alerts!
IHUB Board: https://investorshub.advfn.com/Chart-Analysis-TopMarketGainerscom-36847/
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM
ECGI Holdings Announces LOI to Acquire Pacific Saddlery to Capitalize on $12.72 Billion Market Potential • ECGI • Jun 13, 2024 9:50 AM
Fifty 1 Labs, Inc. Announces Major Strategic Advancements and Shareholder Updates • CAFI • Jun 13, 2024 8:45 AM
Snakes & Lattes Opens Pop-Up Location at The Wellington Market in Toronto: A New Destination for Fun and Games - Thanks 'The Well', PepsiCo, Indie Pale House & All Sponsors & Partners for Their Commitment & Assistance Throughout The Process • FUNN • Jun 13, 2024 8:18 AM
HealthLynked Introduces Innovative Online Medical Record Request Form Using DocuSign • HLYK • Jun 12, 2024 8:00 AM
Ubiquitech Software Corp (OTC:UBQU) Posts $624,585 Quarterly Revenue - Largest Quarter Since 2018 • UBQU • Jun 11, 2024 10:13 AM