Where is the business headed this year? If I you sent me enough stamps for a $10,000 credit, will I have enough material to send you? Can I afford to pay $500 for a stamp for you? Are you looking for a partner or employer? These and many other questions can be investigated in the following pages. They are intended for quick information only and any more in depth questions should be put to me directly. Of course, I can decline to answer on grounds of confidentiality.
Sales have improved markedly over the first three months of the year, with the pace of July to September being about five times that of January to March and about the same as April to June. The cash position of the business has also improved at the same time. Sales are high but are not eating into inventory. It appears that this pace will probably last until the end of the year..
Auction and other cash sales have very good, totalling $4,935.94, well over the total from last year with three months to go! However, auction commissions have not increased at the same rate, so there is a large chunk of gross profit, unlike the first quarter where almost all the sales were eaten up in commissions. Moreover, total auction commissions are being accumulated at about the same rate as last year despite the increased cash sales. In addition, net sales from exchange and approval have improved to about $4,000 net, where by March they had only reached about $300.00. Unfortunately, this is far below last year's total.
Interest on existing debt continues to be a concern with interest expenses along running at about 112% of sales, and 45% of expenses.
That being said, it appears sales will stay steady over the last three months of the year despite the fact I'm only doing one show this quarter, although a lot of that is expected to be exchange. The loss of a show in October should not adversely affect overall sales, and I expect to make back much of it in December.
The information in here was compiled by me and has not been audited. Rely on these representations at your own risk! The information compiled herein for the benefit of customers, suppliers and other interested parties as a preliminary response to potential inquiries. It is not intended to compromise an independent credit report, prospectus, or comply with the securities laws of any jurisdiction. If you are a potential creditor or investor, more detailed information is available dependent on an agreement to keep certain information confidential. Much of the information within has been purposely made obtuse (for example, by expressing numbers in percentages of other numbers, or by rounding) in an attempt to keep certain financial information confidential. However, none of the information contained herein differs substantially from my own financial records. Nevertheless, my bookkeeping practices are my own and, due to the nature of my business, may not be comparable to the financial records of any other company, even within my own industry. However, my accounting practices are contained herein and are not misrepresented.
Last annual report can be found here
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