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AgriMarine Holdings Inc AGMHF



GREY:AGMHF - Post by User

Comment by Smokin67on Jul 30, 2012 2:51pm
163 Views
Post# 20166023

RE: Annual Report - July 26, 2012

RE: Annual Report - July 26, 2012

Company's math doesn't work out, or am i mistaken? From the Revenue section of the report:

"For the year ended March 31, 2012, Benxi AgriMarine generated revenue of $778 thousand, an increase of $223 thousand (i.e. 40%), compared to the same period in 2011. The sales volume increased by 150 thousand kg (i.e. 90%), while the unit selling price decreased by $1.82/kg (i.e. 26%) in fiscal year 2012, compared to the same period in 2011."

If sales volume increased 150 thousand kgs, and that was 90% increase, it means they had 315 thousand kg in sales.
If selling price decreased $1.82/kg, and that was 26% decrease, it means selling price was $7/kg.

315,000kg * $7/kg = $2.2M

But they only did $778k in revenue. Why the discrepancy?

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