BTCS Inc (BTCS)

[Muskett50]

NET SALES (REVENUE) – For the first nine months of the year, quarter ended September 30, 2013, as compared to the nine months ended September 30, 2012, revenue has increased by 50% or by $490,046 from 983,949 to $1,473,995. This increase can be attributed to a change in strategy by Management. Our going forward sales activity reflects our management’s plan of increasing focus on the development of recurring business in existing and new markets for the new Interactive LED Line. Our management does anticipate that revenues will continue to grow for the balance of the year due to the LED product line which represents a much larger value ticket item which will drive revenues higher and the current back order that the Company has built up.

GROSS PROFIT – For the first nine months of the year, quarter ended September 30, 2013, as compared to the nine months ended September 30, 2012, gross profit has increased by $180,835 from $298,460 to $479,295. This is primarily due to the restructuring of the business over the last year and the focus on the more profitable LED product line. Our management does anticipate gross profits to continue to rise for the balance of the year.

OPERATIONAL PROFIT – For the first nine months of the year, quarter ended September 30, 2013, as compared to the nine months ended September 30, 2012, operational profit has increased from $3,457 to $164,839 an increase of $161,382. This can be attributed to the Management’s focus on reducing overhead costs to maximize profitability when revenues increase.




NET INCOME FOR THE PERIOD – For the first nine months of the year, quarter ended September 30, 2013, as compared to the nine months ended September 30, 2012, NET income for the period has increased by $166,214 from $8,647 to $174,861. This can be attributed to the Management’s focus on reducing overhead costs to maximize profitability when revenues increase.