KollagenX Corp (OTCMKTS:KGNX) isn’t the most happening firm on the OTC marketplace, that is for sure. The many press releases surrounding the TV commercials appeared optimistic enough, however, the latest quarterly performance stark contrast to the prevailing buzz.
For the quarter ended November 2015, the company reported cash of $33,000. The current liabilities came at $1.41 million while current assets amounted to $260,000. KollagenX posted quarterly revenues of $94,000 on net loss of $208,000.
The performance
It is evident that the numbers in balance sheet are far from rosy. The revenues declined by nearly 71% over the same period, a year earlier, while the net loss has jumped 52% YoY. Therefore, it is not at all surprising that KollagenX stock performance has been dismal this year. For now, the stock is still getting promoted with no landing page. Still, the stock managed to post a nice upward run last week on increased daily volumes.
When evaluating the performance of this quarter, it is evident nothing in the report could entice investors to raid their pockets. If investors have a chance of gaining from the increased awareness, then the things might be a bit different. Last year, around September, KollagenX closed two note deals worth $191,500. The first note can be convertible at a discount of 40% while the second one is convertible at a 53% discount.
In addition, KollagenX posted derivative liability expenses of $105,739, for the quarter closed November 2015, compared to no such expense in same period in FY2014. The accumulated deficit, including that of its subsidiary KollagenX Inc. was seen at over $1 million.
Earlier in January, KollagenX® CEO, Rondell Fletcher, covers 2016 with Donald Baillargeon of MoneyTV on company’s direction focused on retail outlets with over 300,000 units manufactured, new packaging for Costco and Jessica Alba posting picture using NanoGold Technology.
Life Clips Inc (OTCMKTS:LCLP) Receives A 400,000 Purchase Order for Mobeego
Life Clips Inc (OTCMKTS:LCLP) is having a field day as it continues to ink deals for its recyclable and disposable battery Mobeego all over the world. Its latest distribution deal for the product is with Barak Corporation Spain that will make it available in Spain and Portugal.
The deal with Barak Corporation is for 400,000 units that mark yet another milestone on the company’s push of popularizing it across Europe. Impressed by the deal, CEO, Bob Gruder says the agreement further affirms Life Clips plan of expanding its distribution channel both in the US and abroad.
The developer of action cameras has already inked distribution deals with the likes of DFJ Collections OY as well Checkout Distributors as it continues to explore ways of reaching a wider target market. Launched in 2015 the Mobeego brand is currently available in 16 different countries as Life Clips Inc (OTCMKTS:LCLP) continues to explore other markets.
