Solos Endoscopy (OTCMKTS:SNDY) recently provided an update of its quarterly performance. The management provided an outlook of what shareholders can expect from the company in the coming years.
Financial results
In its most recent quarterly report, Solos Endoscopy (OTCMKTS:SNDY) posted revenue of $62,705 and EPS loss was quoted at $0.06. Although revenue in the quarter declined from $74,525 in a similar quarter a year earlier, the bottom-line improved from EPS loss of $0.10 in the prior year. Successful cost curtailment supported bottom-line in the quarter as expenses related selling, general and administration declined. Solos reported general and administrative expenses of $144,444 in the last quarter compared to $149,089 in the year-ago quarter.
The management quoted total assets at $2.2 million as of the end of the last quarter, which was almost similar to $2.22 million in a similar period a year earlier. The assets in the last quarter were offset by liabilities totaling $530,633.
Recapitalization
[emaillocker id=”7090″] During the last quarter, Solos Endoscopy (OTCMKTS:SNDY) also performed what the management described as a recapitalization transaction. The management said the transaction would unlock funds to meet certain purchase contracts and also pay down certain debts.
The transaction also saw a reduction in Solos’ outstanding share count thanks to a reverse stock split. It is worth noting that Solos has performed multiple reverse stock splits in efforts to simplify its share structure.
As such, the recapitalization and share consolidation transactions are expected to drive both shareholder interest and value in the stock.
However, repeated stock dilution threatens the stability of Solos Endoscopy (OTCMKTS:SNDY)’s stock price.
Regulatory approval
Solos Endoscopy (OTCMKTS:SNDY) designs, manufactures and sells medical-them instruments. According to the CEO, all their instruments are now approved by FDA. The management’s focus is now on expanding the portfolio of Solos’ approved products. [/emaillocker]
Solos Endoscopy (OTCMKTS:SNDY) are targeting to maximize its growth over the coming years as relies on a richer product portfolio. Cost-reduction is also expected to continue as early cost curtailment efforts have shown the ability to pay off.
