In last trading session, the stock price of Flasr Inc (OTCMKTS:FLSR) gained more than 12% to close the trading at $0.0450. The gains came at a share volume of 8,200 compared to average share volume of 2,285.
The buzz
Earlier in April, Flasr filed Form 10-Q, wherein it revealed that for the quarter ended December 31, 2015, the revenue came at $6,255 against $11,331 in the comparable period. This decline can largely be attributed to the decline in sales in the reported period. The operating expenses came at ($112,442), comprising G&A expenses of ($121,344), amortization expense of $85 and product advertising expenses of $8,818.
In the prior year corresponding quarter, total operating expenses came at $3,151,917, comprising of $3 million in G&A expenses, $138,922 in product marketing expenses and $4,819 in preproduction costs. Operating expenses declined due to reduced product advertising, preproduction expenses and consulting costs. The decline can largely be attributed to an overall decrease in issuing stock for services.
The highlights
For the quarter ended December 31, 2015, Flasr reported interest expense of $63,786 against $7,395 of interest expenses in the prior corresponding period. This jump is primarily due to the increase in outstanding short-term debt. In the reported quarter, unrealized loss on derivatives came at $230,436 compared to $0 for the prior corresponding period. This jump on unrealized loss on derivatives can be attributed to the value of the stock declining to $.0001, demanding a reversal of the gain posted in the prior quarter.
The expenses linked to the cost of debt came at $13,750 against $0 in the comparable period. This jump is due to increase in expenses pertaining to short term notes in the reported quarter. The equity purchase agreement costs stood at $0 for the quarter ended December 31, 2015 compared to $0 in the comparable period.
