HALIFAX, Nova Scotia, June 29, 2020 (GLOBE NEWSWIRE) — MedMira Inc. (MedMira) (TSXV: MIR), reported today on its financial results for the quarter ended April 30, 2020.
The Company’s Q3 FY2020 statements have recorded all financial transactions from the 1st of February 2020 until the 30th of April 2020. Any subsequent transactions after the end of the third quarter are not recorded in the Company’s financial statement and balance sheet for Q3 FY2020.
Profit and Loss Highlights
- Revenue: The Company recorded revenues in Q3 FY2020 of $87,207 compared to $143,387 in Q3 FY2019. The decrease of these revenues was due to the delay of orders received due to the COVID-19 worldwide situation.
- Gross Profit: The Company recorded a gross profit in Q3 FY2020 of $70,344 compared to $119,980 for the same period last year. The overall gross margin percentage on sales was 81% compared to a gross margin of 84% in the same quarter last financial year.
- Operating expenses: The Company recorded for…