The 10K shows IK is profitable if you know how to read the whole thing.
The below is directly from the 10K you provided link to:
Expenses
During the year ended June 30, 2014, we incurred direct materials cost of $41,331, sub-contractors cost of $51,601, general and administrative expenses of $212,746, selling and marketing expenses of $113,954, loss on joint venture of $37,729 and exploration costs of $6,734. During the year ended June 30, 2013, we incurred direct materials cost of $35,955, sub-contractors cost of $30,560, general and administrative expenses of $59,962, selling and marketing expenses of $1,783. The increase in general and administrative and selling and marketing expenses was mainly due to activities in getting all the filings of Amfil Technologies Inc. up to date and promoting the corporate identity and businesses of the public Company.
Interest of $24,988 incurred during the year ended June 30, 2014 included mainly amortization of debt discount of $16,613 and interest of $7,479 on the convertible promissory notes.
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Once you adjust for the expenses not related to IK, they were profitable in 2014 by about $45,000. This is also consistent with what the CEO said.
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