What we have here is a potential turnaround story. This is not our first involvement with DIGIPATH. We were hired in late 2018 to help communiate the story. We were successful ! Take a look at the chart in early 2019. Well... Hello Again !
The Company made continued progress on the development of our SabIR device, which is our fully-integrated NIR spectrometer that will enable instant field testing for THC, CBD and CBG markers in the field
Purchased a new Triple Quad 6500+ at the end of the quarter, which we expect will generate significant productivity improvements and cost savings once placed in service during the second fiscal quarter of 2020
First quarter revenues increased by $166,815, or 26%, on a year-over-year basis
Gross margins increased to 50%, from 25% in the prior year’s first fiscal quarter, as the Company improved processes to become more efficient
Adjusted EBITDA improved by $205,200 on a year over year basis, as the first quarter of 2020 was ($46,994), compared to Adjusted EBITDA of ($252,194) for the comparative fiscal quarter ending December 31, 2018
Net loss decreased to $220,427, compared to $462,174 for the comparative quarter ending December 31, 2018, an improvement of $241,747, or 52%