Since 2008, MFGD has increased the amount invested in television and Internet direct response advertising and marketing. Due to this success an increase in investments was the outcome each month, ultimately resulting in revenue for the three months ended September 30, 2009 of $2,621,465, as compared with $735,024 for the same period in 2008. In addition, the increase in the value of an ounce of gold has improved the desire of the public to sell their excess gold and has increased revenue per gram of gold received.
Another increase was the cost of revenue which was $738,047 during the three months ended September 30, 2009, from $434,833 for the same period in 2008. The gross margin on a percentage basis is higher for the third quarter of 2009 as compared with the same period in 2008 due to the increase in the value of an ounce of gold.
Interest expense increased to $159,793 during the three months ended September 30, 2009, from interest income of $465 for the same period in 2008 primarily as a result of financing agreements including the media line of credit, Convertible Note Payable and advances from the Refinery.
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