Jersey City, NJ–(Newsfile Corp. – May 10, 2024) – EQUATOR Beverage Company (OTCQB: MOJO) reports financial results for the quarter ended March 31, 2024. Form 10Q was filed on May 10th.th Cooperation with the U.S. Securities and Exchange Commission.
Highlights include:
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Revenue for the first quarter of 2024 was $640,653, an increase of $125,020 from $515,633 in the prior year period. This 24% increase was due to increased case sales for all products.
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Cost of revenue was $370,070, or 58% of revenue, compared to $313,457, or 61% of revenue, in the prior year period. This decrease was due to increased sales of 1 liter packages.
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Gross profit for the first quarter of 2024 was $270,583 or 42% of revenue, up from $202,176 in the prior year period. This was due to an increase in sales of 1 liter products.
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Net loss for the first quarter of 2024 was $103,020 and net income for the first quarter of 2023 was $4,485. This $107,505 decrease in revenue was due to an increase in executive compensation for the quarter, primarily due to the increase in the market value of his EQUATOR stock and an increase in selling expenses.
EQUATOR Beverage®
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For more information, please contact us below.
Glenn Simpson CEO
EQUATOR Beverage Company
917 574 1690
Symbol ticker: MOJO
Website: www.equatorbeverage.com
Important note regarding forward-looking statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. These forward-looking statements should not be used to make investment decisions. The words “estimated,” “potential,” “seek” and similar expressions identify forward-looking statements and speak only as of the dates on which they are made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements inherently involve risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results may differ materially from those described in, contemplated by, or underlying the forward-looking statements. Risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effects of government regulation, competition and other significant risks.
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