$10.5M Rev. 750K NET PROFIT just 47 million shares REVENUE INCREASED 300% WHEN YOU COMPARE WITH THE SAME PERIOD LAST YEAR
RESULTS OF OPERATIONS
Nine Month Period Ending Ju
ly 31
, 2017
For the 9
-
month period ended July 31
, 2017, the Corporation r
eported a net income of $595,716 (C$741,080
)
co
mpared to a net loss of $315,919
for same period the previous year.
The increase in net income was directly
related to an increase in s
ales during the period, as well as improved profit margins generated from efficiencies
generated from Q
uantum
’
s new calcining facility,
which only started fully operating in August 2016.
July 31
,
2017
2016
Sales
$
8,443,667
$
2,907,198
Cost of
sales
(7,554,442)
(2,898,329)
Gross Profit (Loss)
889,225
8,869
Expenses
(343,072)
(313,869)
Income tax expense
49,563
(10,919)
Net income (loss) for the period
$
595,716
$
(315,919)