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DuSolo Fertilizers (TSXV:DSF,OTC:ELGSF,FWB:E6R) provided results from production, sales and finance for Q3 of fiscal 2015.
DuSolo Fertilizers (TSXV:DSF,OTC:ELGSF,FWB:E6R) provided results from production, sales and finance for Q3 of fiscal 2015: 7,756 tonnes of Direct Application Natural Fertilizer was produced for the 3 months ended on June 30th, with 3,462 tonnes sold. Revenue for the 3 and 9 month periods ending June 30th are $365,528 and $476,295, respectively. Gross profit for the same time periods are $144,661 and $200,044, respectively.
As quoted in the press release:
For the three months ended June 30, 2015, DuSolo produced 7,756 tonnes of Direct Application Natural Fertilizer (“DANF”) product of varying grades. For the nine month period ended June 30 2015, the Company produced 11,164 tonnes of DANF product of varying grades.
During the three month period ended June 30, 2015, the Company sold 3,462 tonnes of DANF product of varying grades. For the nine month period ended June 30, 2015, 4,155 tonnes of DANF of varying grades was sold.
Revenue for the three and nine month periods ending June 30, 2015 are $365,528 and $476,295, respectively. Gross profit for the same time periods are $144,661 and $200,044, respectively. Net loss for the three month period ended June 30, 2015 is $632,807 and net loss for the nine month period ended June 30, 2015 is $2,796,053. This translates to a loss per common share (basic and diluted) of $0.01 for the three month period ended June 30, 2015, and a loss per common share (basic and diluted) of $0.02 for the nine month period ended June 30, 2015.
The Company’s cash position as at June 30, 2015 was $659,339 (including $92,341 that was restricted). Working capital as of June 30, 2015 was $154,835.
DuSolo Fertilizers CEO, Darren Bowden, said:
“The Company remains focused on growing its operations and optimizing its production processes to become a Brazilian fertilizer producer. Current Brazilian phosphate production does not meet domestic demand, and this shortfall is expected to continue in the coming years. DuSolo is uniquely positioned to capitalize on this and participate in this market.”
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