Consolidated revenues were $2,440,336 for the nine months ended June 30, 2014, an increase of $331,451 or approximately 15.7% over consolidated revenues for the nine months ended June 30, 2013. Gross Margin percentage of 45% for the nine months ended June 30, 2014 was consistent with prior year.
Consolidated net loss for the nine months ended June 30, 2014 was $803,399 as compared to $7,024,750 for the nine months ended June 30, 2013. The net loss for the nine months ended June 30, 2013 included a charge of $5,943,533 for goodwill impairment.
Loss from operations for the nine months ended June 30, 2014 was $776,696 a decrease of $246,734, as compared to loss from operations of $1,023,433 for the nine months ended June 30, 2013. Operating expenses decreased $111,209 as compared to prior year.
Outstanding Notes for Real Estate were reduced by $2,900,000 on May 16, 2014 with the termination of agreements to purchase land and buildings from an officer and shareholder.
In addition to the debt reduction and the removal of land and building assets, Verity Corp. refinanced short term debt of $3,710,000. The debt is classified as long term debt as of May 16, 2014 and the first principal payment is due September 30, 2017. Unpaid, accrued interest related to the $3,710,000 debt will become due September 30, 2015.
- See more at: veritycorp.com/news/...iles-10-q#sthash.mjiO2FeU.gCN6dGTp.dpuf
deshalb gab es auch keine verwässerung, weil vrty genügend gewinne erzielt mit dem vertrieb ihrer produkte..