About those financials ......Beyond the obvious fact that there was no news release accompanying the release of these financials YESTERDAY, here are some observations:
1. STILL operating at negative gross margins. This means they are losing money on all shipments of product, even before accouting for any of their $1M of quarterly overhead expenses.
2. Net sales grew a little over 100% year over year BUT the net LOSS only shrank by about a quarter. Absent a material reduction in expenses, sales will need to grow SUBSTANTIALLY in order to reach breakeven. Remember also the 'law of small numbers', where it's easy to post sales growth of 100% when you have well under $1 million in quarterly sales.
3. At a growth rate of 100% per year it will take over 2 years to reach breakeven (covering overhead plus production costs), based on current expense load - which by the way has very little in it for marketing or sales promotion.
4. That means the company will need to raise at least $5-7 million, and based on their March 31st cash position, they will need this money soon. They may decide to do it in tranches, to spread the pain.
5. Management appear to have been running this thing full tilt for Q1 2018, apparently (maybe) on the assumption that there will be financing $$ coming.
6. With the share price at $0.04, shareholders may need to brace for a substantial dose of dilution.
7. Considering that the last financing was done at $0.10, anything below that price level reflects very poorly on management.
8. At $0.04 / share the price is down roughly 80% from where it went public roughly 2 years ago.