SAN DIEGO, April 1, 2020 /PRNewswire/ -- In accordance with the OTC Pink Basic Disclosure Guidelines, Dalrada Financial Corp. (OTC Pink: DFCO) has filed with OTC Markets Group Inc. (www.otcmarkets.com) the required disclosure statements for the quarter ending December 31, 2019. The filing will remove the "Yield Sign" to re-establish the company as OTC Pink Current Information.
For the quarter ending December 31, 2019, Dalrada Financial generated revenues of $32,166 with a gross profit of $24,673 compared to revenues of just $17,317 and gross profit of $10,706 for the quarter ending September 30, 2019. Additionally, due to the expiration of tax liabilities, net income increased to $188,460 for the quarter ending December 31, 2019, compared to a net income loss of $620,731 the previous quarter (ending September 30, 2019).
Currently, the company is realizing increased sales activity due to its business activities in clean energy, low-cost precision parts, disinfectant and hand-sanitizing products and services, cervical cancer screening solutions, and advanced technology services.
"The positioning of a multi-faceted organization that is both innovative and nimble during the current circumstances is proving to be impactful. While the operational and sales structure took time to put together, we are continuing to push forward, and we are all passionate about making a real difference now more than ever," said Brian Bonar, CEO of Dalrada.
Dalrada will next complete its Form 10-Q for the quarter ending December 31, 2019.
About Dalrada Financial
Dalrada Financial Corp. (OTC Pink: DFCO) solves real-world problems by producing innovation-focused and technologically-centered solutions on a global level. Delivering next-generation manufacturing, engineering, and healthcare products and services designed to propel growth, Dalrada is a team of industry experts and an organization built upon a strong foundation of financial capital. The company and its subsidiaries are positioned for stable long-term growth through intelligent market research, sound business acumen, and established operational infrastructure. For more information, please visit www.dalrada.com or call 1-858-283-1253.
Disclaimer
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.
View original content:http://www.prnewswire.com/news-releases/dalrada-files-otc-markets-disclosure-statement-301033137.html
SOURCE Dalrada Financial Corp.