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Kelyniam Global Releases 3rd Quarter 2021 Financials
Kelyniam Global Releases 3rd Quarter 2021 Financials.
About this update from Kelyniam Global, Inc.
[{"type":"text","content":"\n\n\n\nKelyniam Global Releases 3rd Quarter 2021 Financials\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nKelyniam Global Releases 3rd Quarter 2021 Financials\nProfitability and SEC Rule 15c2-11 Pink Current Status\nPR Newswire\nCANTON, Conn., Nov. 9, 2021\n\n\n\nCANTON, Conn., Nov. 9, 2021 /PRNewswire/ -- Kelyniam Global (OTC:KLYG), a maker of custom cranial implants, today announced results for its third quarter ended September 30, 2021.  \n\"Strong quarterly sales growth in Q3 made up for delayed procedures due to the Covid 19 Delta variant that affected scheduling in Q2, resulting in YTD sales being approximately flat to the same period last year.  We are pleased to see that our focus on margin and profitability is paying off,\" said Ross Bjella, Kelyniam's CEO.  \"The Company is hopeful that the sales momentum in Q3 will continue into Q4 but acknowledge the pandemic could continue to negatively impact sales in certain regions.\"\nFinancial performance for the nine months ended September 30, 2021 compared to the nine months over the same period in 2020 includes:\nTotal revenue of $1,953,267 compared to $1,970,812, a decrease of 0.9% Gross margin of $1,494,067 compared to $956,173. Operating income of $140,568 compared to  $133,316 Net Income $222,353 compared to net income of $117,651 over the prior yearOn November 5, 2021, OTC Markets changed the status of KLYG shares to \"Pink Current.\"  This change allows investors to more freely buy and sell shares of the Company. The company also reported that it's Paycheck Protection Plan Loan balance of $144,000 was forgiven.  The accounting effects of this forgiveness occurred in the 3rd quarter.\n\"I am extremely pleased of the progress we are making in the market and with improvements to our internal processes and controls,\" said Bjella.  \"We continue to work closely with the FDA to resolve issues documented during the last audit and to aggressively pursue protection measures for our intellectual property.\"    \nThe complete financials can be found on the company's we...