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Cyberlux Corporation (OTC:CYBL) Reports Financial and Operational Highlights for Quarter Ended September 30, 2021
Cyberlux Corporation (OTC:CYBL) Reports Financial and Operational Highlights for Quarter Ended September 30, 2021.
About this update from Cyberlux Corp.
[{"type":"text","content":"Company delivers 613% increase in quarter-over-quarter revenue growth and posts positive net income for the period ended September 30, 2021.RESEARCH TRIANGLE PARK, NC / ACCESSWIRE / November 16, 2021 / Today, Cyberlux Corporation, (OTC Bulletin Board:CYBL), an advanced technology platform company and a leading provider of LED lighting, renewable energy and infrastructure technology, and advanced unmanned aircraft systems (UAS) solutions, announced the Company's financial performance for the three and nine months ended September 30, 2021.Financial Highlights for Three and Nine Months Ended September 30, 2021Revenues from Operations for the three months of $2.251 million, up 613% from the $0.367 million in revenue for the previous quarter ended June 30, 2021.Revenues from Operation for the three months exceeded June estimates by 50.1% with $2.251 million versus $1.5 million expectation.Revenues from Operations for the nine months of $2.62 million, an increase of $2.62 million on a year-over-year basis.Net Income for the three months of $155,299 grew 252% on a year-over-year basis.Net Income for the nine months ended of $543,263 grew 289% on a year-over-year basis.Total assets increased 1,169% year to date to $921,792 from $78,838.Total liabilities reduced by $590,289, a 12.5% decrease versus year-end December 31, 2020.Cyberlux Corporation CEO Mark Schmidt commented on the results:"Dear CYBL Community, we really exceeded our expectations with these Q3 results, which was an exceptional operational quarter for our team. We launched Operation Alpha, announced our first acquisition, added key personnel, launched our UAS business unit, and had great revenue, net income and balance sheet results for the quarter. As I've said, we are just getting started and this is just the beginning. We expect Q4 and beyond to be an exciting period of continuous growth for Cyberlux. Let's go!"Operational Highlights for Three Months Ended September 30, 2021The three months ended September 30, 2021 exceeded Management expectations for growth in the Company revenue, net income from operations and liability reduction due to the initial success of the Operation Alpha plan and the aggressive growth initiatives undertaken by the Company.We launched the Company's Operation Alpha growth plan, which has three top priorities: (1) drive growth through agg...