Sep. 4 at 12:47 PM
$UCLE first quarter results were impacted by disruptions caused by the closing of the LA facility, shipments packed and shipped to the Overhoff facility, and associated reductions in staffing, said Mr. Goldstein. We expect to show growth in sales, and more importantly, progress in our march to profitability by the fourth quarter. Our first quarter loss from operations of
$523,880 was impacted by a non-cash charge of
$451,459 for incentive out-of-the-money warrants for employees and consultants, which, adjusted for that charge, would have produced a loss from operations of
$72,421, a 50% reduction from the
$144,429 operating loss from a year ago. We were close to breakeven on lower sales, even with the disruptions.
