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Conclusion
The Company decreased its Net Loss for period ended June 30, 2013 by $471,290. The significant financial improvement from the same period in 2012 is due to the fact that the Company will not be charged again for the issuance of stock to its CEO to guarantee his contract. This improvement of $450,000, combined with an increase in sales of $26,203, resulted in a significant turnaround for the Company. According to Management, total salaries are only $45,404 or approximately 40% of sales. The Company has spent additional monies on professional fees to complete the TUV Audit which is scheduled to take place on August 16, 2013. Therefore, Operating Expenses going forward should remain constant. The reduction of these onetime expenses, coupled with an expected increase in sales the 3rd and 4th quarters in 2013, should result in a very positive end of the year for Solos Endoscopy.
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