The theory is a reasonable one, but it's not the case. MJNA really improved their reporting. It wasn't just how much nicer the filing looked, it was the info they shared. Unfortunately, the info isn't so great. It's hard for me to tell the exact page - it's not numbered. But, on about page 9 out of 40, there is a supplemental table that goes division by division.
1) Total "sales" were $9801
2) Cost of Goods Sold / Direct Costs (i.e. manufactured cost without consideration for other expenses): $17,454
3) Gross Profit: -$7653
4) Expenses: -$-299,649 (big ones were advertising and marketing, payroll and professional services - strangely, postage was $12,557, which seems out of whack and would imply higher sales than they reported)
5) Loss: $307,302
I do have a question for all - most of the revenue being reported is "Wellness Management" - it accounted for $662K of the $835K total. They talk about it a bit in the quarterly disclosure, but does anyone have any insight about what exactly this is?
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