IMGG had revenues in the three months ended September 30, 2009 of $224,747 compared to $505,361 for the same period in 2008, which represents a 44% decrease. The decrease was due in part to the Company's focus on obtaining approval for its new proprietary medical device but the Company intends to refocus on the marketing, sale and provision of its historic products and services as well. Equipment sales were $85,284 in the three months ended September 30, 2009, compared to $393,150 in 2008, representing a decrease in equipment sales of $307,866 in 2009. Service and parts sales for the three months ended September 30, 2009 were $33,665 compared to $47,962 in 2008. The Company will continue to focus on increasing its revenue in this area as well.
The cost of revenue for IMGG was $80,115 in the three months ended September 30, 2009 compared to $264,101 in the three months ended September 30, 2008, which represents a decrease of $183,986. This is due mainly to the decrease in revenue. IMGG had a decrease in gross profit margin in the three months ended September 30, 2009 of $144,632 versus $241,260 for the same period of 2008, again due to decreased revenues. Operating expenses increased for IMGG from $505,431 in the three months ending September 30, 2008 to $509,226 for the same period in 2009, a 1% increase. Their loss on operations increased to $364,594 in the three months ended September 30, 2009 compared to $264,171 for the same period in 2008, a 38% increase. This increase is attributed to the overall decrease in revenue for this same period. IMGG had a net loss of $615,529 in the three months ending September 30, 2009 compared to a profit of $61,832 for the same period in 2008, again as a result of decreased revenue.
Best Damn Penny Stocks, a leading financial publication, is pleased to alert investors of stocks on the move. Sign Up for our Free Stock Newsletter
About Imaging3 Inc.:
Imaging3, Inc. (OTCBB:IMGG) has developed a breakthrough medical imaging device that produces 3D medical diagnostic images of virtually any part of the human body in real-time. Because these 3D images are instantly constructed in real-time, they can be used for any current or new medical procedures in which multiple frames of reference are required to perform medical procedures on or in the human body.
Sign up for the free Best Damn Penny Stocks newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website
About Best Damn Penny Stocks
Best Damn Penny Stocks is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that are on the brink of a financial breakout. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer
