Beyond Commerce Inc (BYOC)

[crazy horse 0]

Financial Results for the Three Months Ended March 31, 2020:

Revenue for the three months ended March 31, 2020 was $1,467,457, an increase of $1,003,543, or 216%, compared to $463,914 for the three months ended March 31, 2019. The increase in revenue relates to the acquisition of Service 800, which closed on March 4, 2019 and was effective February 28, 2019.

Gross profit for the three months ended March 31, 2020 was $825,170, an increase of $473,310, or 135%, compared to $351,860 for the three months ended March 31, 2019. The resulting gross margin was 56.2% for the three months ended March 31, 2020, compared to 75.8% for the three months ended March 31, 2019.

Selling, General and administrative expenses for the three months ended March 31, 2020 were $304,035, an increase of $182,992, or 151%, compared to $121,043 for the three months ended March 31, 2019. The increase is mainly attributable to the Service 800 acquisition and the related costs associated with this operation, as the Company now has a significant number of employees.

Payroll expenses for the three months ended March 31, 2020 were $669,109, an increase of $392,388, or 142%, compared to $276,721 for the three months ended March 31, 2019. The increase is mainly attributable to the Service 800 acquisition and the related costs associated with this operation, as the Company now has a significant number of employees.

Professional expenses for the three months ended March 31, 2020 were $250,158, an increase of $120,867, or 93%, compared to $129,291 for the three months ended March 31, 2019.

Depreciation and amortization for the three months ended March 31, 2020 were $123,440, an increase of $69,849, or 130%, compared to $53,591 for the three months ended March 31, 2019.

Operating loss for the three months ended March 31, 2020 was $521,572, an increase of $292,786, or 128%, compared to $228,786, for the three months ended March 31, 2019.

Net loss for the three months ended March 31, 2020 was $424,583, a decrease of $3,329,419, or 89%, compared to a net loss of $3,754,002 for the three months ended March 31, 2019. The decrease in net loss was primarily attributable to the changes in the derivative liability and debt fees associated with the Discover Growth Fund Note. The resulting EPS loss for the three months ended March 31, 2020 was ($0.00) per diluted share, compared to ($0.00) per diluted share for the three months ended March 31, 2019.