10K Highlights:
2010 v. 2009
Gross Revenue:
$20,358,040 - $2,193.338 (928% increase)
Gross Profit:
$8,334,708 - $356,792 (2,336% increase)
Gross Profit on Product Sales:
$11,177,367 - $291,431 (3,835% increase)
Overall Gross Margins:
41% - 16% (256% increase)
CASH AND CASH EQUIVALENTS - END OF YEAR
$6,986,881 - $987,010 (708% increase)
Cash balances totaled $6,986,881 at December 31, 2010 and $987,010 at December 31, 2009. As of February 21, 2011, we have approximately $7,494,525 cash on hand.
Additional $507,644 in 52 days.
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Addition of 19 new employees and revenue growing to more than $9 million in the fourth quarter.
The Ambient Smart Grid platform was instrumental to the build-out of the smart grid network in the state of Ohio helping to move the smart grid concept from vision to reality.
The increase in the gross margin percentage in 2010 compared to 2009 is a reflection of the maturing of our product offerings, an enhanced ability to plan production and scale based on increased lead-time and transparency in the forecasting and purchasing process of our customer, and a stable and productive relationship with our contract manufacturer.
Sloth
