covid revennue for CBDTDon't underestimate the importance of Covid test revenue, this is from Empower Clinic CBDT, they are doing well in Q2, I assume DM is getting good covid revenue for 2022 as well, JMHO.
Q2 2022 Highlights - Total revenues from continuing operations of $1,553,980 for Q2 2022 compared to revenues of $861,826 for Q2 2021, representing an 80% increase year over year. The increase in revenue is primarily attributed to the launch of Empower Clinic’s COVID-19 testing clinics for cruise ship passengers.
- Gross margin from continuing operations of 47% for Q2 2022, compared to 4% in Q2 2021, representing a 43% increase.
- Net income from continuing operations of $2,165,855 or $0.01 per share compared to a net loss from continuing operations of $412,209 or $(0.00) per share for Q2 2021. The net income was primarily driven by a non-cash gain on the fair value adjustment related to the Company’s conversion feature and warrant liability outstanding that were impacted by the significant depreciation of the Company’s share price (a key input in determining the fair value).
- Cash at June 30, 2022 of $793,935, compared to cash of $866,170 at December 31, 2021.
- Cash used in operating activities of continuing operations was $1,624,449 for Q2 2022, compared to $395,417 for Q2 2021.