Selected Annual Information (US$)
Overall Performance
The Company generated revenues of $9,925,137 for the year ended December 31, 2015 compared to $1,310,155 for
the year ended December 31, 2014 and revenues for the three months ended December 31, 2015 of $2,877,074
compared to $1,025,996 for the three months ended December 31, 2014. The Company reported a net loss of
$(17,455,695) for the year ended December 31, 2015 compared to a net loss of $(3,202,053) for the year ended
December 31, 2014, and net income of $330,356 for the three months ended December 31, 2015 compared to a net
loss of $(1,570,104) for the three months ended December 31, 2014.
Gross profits improved to $2,035,646 for the year ended December 31, 2015, up from $98,411 in 2014. The gross
margin for the year ended December 31, 2015 was 21% and 14% for the three months ended December 31, 2015
compared to 8% and 16% for the comparable periods in 2014. The Company spent US$1,407,121 on marketing and
sales (2014: $404,857), $8,260,735 on general & administration (2014: $2,853,820), $2,831,995 (2014: $Nil) on
professional fees related to warrants, $830,179 (2014: $Nil) on listing expenses, and $458,582 (2014: $21,615) on
research & development.
The Company’s total assets were US$9,178,241 on December 31, 2015 (2014: $2,857,018). The Company’s total
liabilities were $11,007,252 on December 31, 2015 (2014: $1,051,552). Shareholders’ equity after the deficit was |
