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For the fiscal year ended 31 December 2015, MEC Inc revenues decreased 23% to $731K. Net loss increased from $993K to $5.1M. Revenues reflect Licensing revenues decrease of 48% to $417K. Higher net loss reflects General and Administrative increase from $1.2M to $4.2M (expense), Loss on conversion of debt increase from $63K to $1.2M (expense), Interest income (expense), net increase from $24K to $323K (expense).
Period Ending: | Dec 31, 2015 | Sep 30, 2015 | Dec 31, 2014 | Sep 30, 2014 |
---|---|---|---|---|
Total Revenue | 0.09 | 0.08 | 0.18 | 0.05 |
Gross Profit | 0.01 | 0.04 | 0.13 | 0.05 |
Operating Income | -1.37 | -1.84 | -0.62 | -0.54 |
Net Income | -1.45 | -1.9 | -1.05 | -0.42 |
Period Ending: | Dec 31, 2015 | Sep 30, 2015 | Dec 31, 2014 | Sep 30, 2014 |
---|---|---|---|---|
Total Assets | 3.03 | 3.28 | 0.64 | 0.24 |
Total Liabilities | 3 | 2.7 | 1.83 | 0.76 |
Total Equity | 0.03 | 0.58 | -1.19 | -0.51 |
Period Ending: | Dec 31, 2015 | Sep 30, 2015 | Dec 31, 2014 | Sep 30, 2014 |
---|---|---|---|---|
Period Length: | 12 Months | 9 Months | 12 Months | 9 Months |
Cash From Operating Activities | -1.11 | -0.57 | -0.4 | 0.06 |
Cash From Investing Activities | -0.06 | -0.04 | -0.15 | -0.09 |
Cash From Financing Activities | 1.12 | 0.57 | 0.6 | 0.08 |
Net Change in Cash | -0.05 | -0.05 | 0.05 | 0.05 |
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