Tinkerine Studios Releases Q1 2016 Financial Results

Tinkerine Studios Ltd. (TSXV:TTD) (FSE:WKN WB6B) and (OTC:TKSTF) has announced its financial results for the fiscal period ending March 31, 2016.

According to the press release, the company’s Q1 highlights are:

• Revenue of $171,689 for Q1 2016, a 58% increase from the comparable period ending March 31, 2015.
• Gross Margin of $64,572, a 177% increase from the comparable Q1 2015 period.
• A 32% reduction in expenses in Q1 2016 versus the previous years’ comparable period.
• Net Loss of $311,223 for the period ending March 31, 2016 versus a net loss of $475,027 in the comparable Q1 2015 period.
• Appointed Mr. Justin Sy as interim Chief Financial Officer.
• Closing of private placement financing in the amount of $315,000, subscribed for by insiders and founders of the Company.
• Increased inventory of raw materials and finished products to $608,351 in anticipation of cyclical sales to educational institutions in Q2 and Q3.

Click here to read the full press release.