Biggest reason for huge loss is they took 297K of depreciation, which is 4 quarters worth of depreciation, which is a non-cash expense. They also took a 137K hit to clear out the AR clearing account, which were probably the result of past accounting mistakes.
Quick overall assessment in my opinion:
Someone is starting to clean up the financial statements which is great to see. They still have to write off some old assets that have no value.
Most important number is Actual Gross Product Sale for quarter were 529K, which I think most of us are happy with.
I am happy with the results base on quick analysis. I think we finally may have an accountant in place that knows what they are doing.
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