Did anyone notice? Another item of interest in the audited financial statements. On sales of $175,000 in the quarter ended December 31, the cost of goods sold was $1,840,000. Cost of goods sold skyrocketed this year. This means they lost $10 for every $1 in sales they made. This is before their operating expenses of $3,500,000 on average per quarter for the year before other losses.
In the Management Discussion "During the year ended December 31, 2021, cost of goods sold increased by $1,774,765 as the Company determined that current years wages were directly related to the production of HG products by specific employees."