GLGi.. $0.31.. !0Q.. Surprise on sales..?? Was this the reason for the give away shares in the Teens???? hank
Net Income Available to Common Stockholders $ 2,603 $ 237,248
Greystone Logistics, Inc. and Subsidiaries
Consolidated Statements of Income
(Unaudited)
Three Months Ended November 30,
2012 2011
Sales $ 5,059,118 $ 6,213,501
Cost of Sales 4,175,786 5,140,878
Gross Profit 883,332 1,072,623
General, Selling and Administrative Expenses 542,444 487,358
Operating Income 340,888 585,265
Other Income (Expense):
Other Expense, net (3,500 ) (3,891 )
Interest Expense (210,511 ) (212,544 )
Total Other Expense, net (214,011 ) (216,435 )
Income Before Income Taxes 126,877 368,830
Benefit From Income Taxes 9,900 —
Net Income 136,777 368,830
Income Attributable to Variable Interest Entity (52,256 ) (50,555 )
Preferred Dividends (81,918 ) (81,027 )
Net Income Available to Common Stockholders $ 2,603 $ 237,248
Income Available to Common Stockholders:
Per Share of Common Stock - Basic $ 0.00 $ 0.01
Per Share of Common Stock - Diluted $ 0.00 $ 0.01
Weighted Average Shares of Common Stock Outstanding -
Basic 26,111,201 26,111,201
Diluted 27,447,565 26,111,201
