3 loans with a combined daily payment eat away Q1's profit margin entirely in the month of January to the tune of $80,755 where the entire Q1's profit was $40,591?
For the 3 months of Q1 total payments were: $80,755 + $78,715 + $80,755 = $239,660. Course I am unsure if daily payments is all calendar days or strictly business days which may throw off this number. May technically not be toxic debt but if the China deal doesn't materialize it can be just one of a few factors that keep this in a continual operating loss and be just as bad.
Other thing is if the 10q for Q2 will state any developments on the line of credit renegotiation or a press release afterward. May be safe to assume that after August the renegotiation failed as that is six months.
Q1 loss for 2014 was: 225,372
Q1 loss for 2015 was: 301,739
Q2 loss for 2014 was: 87,793
Q2 loss for 2015 is: ?
Q2 will tell all and have a 2-3 week wait period. Note that Q2 came out on Sep 11th last year from BRWC according to OTC Markets.
10-Q Sept 11, 2014
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