Earlier this calendar year, we decided to allocate all our resources on selling our own branded products and, as a result, we ended our adult toy distribution relationships. This enables us to utilize our warehouse space, sales personnel and employees to focus on expanding the Liberator, Jaxx and Avana brands, which are sold at significantly higher gross margins. So although we expect to experience a short-term decline in net sales, we should also see an improvement in the gross profit as a percentage of net sales. And, because we are more focused on selling our branded products, we also expect to see acceleration in the rate of sales growth for those products. Our vision for Luvu Brands has not changed. We continue to believe that our long-term success is based on providing customers with products that enhance intimacy and sleep and add fun back into casual seating. We strive to reduce our carbon footprint through vacuum compression and re-purposing our foam scrap into useful products. We act with conscious intent to provide a meaningful solution to our customers’ needs while keeping sewn goods manufacturing here in America. Thank you for your continued support and confidence.
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