Mgmt discussion/analysis ending Apr 30/2023What is interesting in the statement from taat below is that the gross margin went from 38% in 2022 to just 5% with the ADCO aquisition. Read below.
Overall, the Company saw an increase in revenue and cost of goods sold, resulting in decreased gross margin percentage to 5% (April 30, 2022 – 38%). The decrease relates to the Company’s acquisition of ADCO during 2022. In the prior year, all sales were made by TAAT International LLC, whereas in 2023, ADCO contributed over 95% of the revenue.