Business
Mastermind Marketing Reports Increased Revenue for the Year, Marking the Company’s 6th Consecutive Quarterly Profit
Mastermind Marketing Reports Increased Revenue for the Year, Marking the Company’s 6th Consecutive Quarterly Profit.
About this update from Mastermind, Inc.
[{"type":"text","content":"\nMastermind, Inc. (OTC QB: MMND), a leading involvement marketing agency that develops and executes social and digital marketing campaigns for global brands, today announced financial results for the quarter and nine months ending June 30, 2019 that showed year over year growth in revenue and gross profit.\n\n\n“This is Mastermind’s sixth consecutive quarterly profit since becoming a public entity in Q1 2018. Our business is solid and growing. For the quarter ended June 30, 2019, we had gross profit of $1,058,400 and income from operations of $96,171. Our G&A expenses increased in 2019 because we added additional staff to grow our business with new and existing clients and develop key strategic growth initiatives such as an augmented reality marketing offering, digital intelligence and optimization practice, and content marketing automation. Investing in these areas will give us additional opportunity to drive revenue in the coming quarters,” stated Daniel Dodson, CEO of Mastermind. “We also began discussions with several potential banking partners to provide capital for our strategic acquisition strategy, and we anticipate hiring an investor relations firm in the coming months.”\n\n\nHighlights from Mastermind’s financial results reported include:\n\n\n\nNet income of $67,762 and $375,183 for the three month and nine month periods - the sixth consecutive quarterly profit\n\n\nTotal revenues for the 9 months increased 8 percent from $3,670,474 to $3,949,398\n\n\nGross profit for the 9 months increased 9 percent from $3,138,444 to $3,405,262\n\n\nTotal assets increased 14 percent from $2,130,568 to $2,418,783\n\n\nStockholders' equity increased 21 percent from $1,787,619 to $2,162,802\n\n\n\nDetailed financial information can be found in Mastermind’s Annual Report on Form 10-K for the period ended September 30, 2019, and Quarterly Reports on Forms 10-Q for the period ended June 30, 2019 and 2018 filed with the Securities Exchange Commission on August 19, 2019.\n\n\nAbout Mastermind, Inc.\n\n\nMastermind, Inc. provides thinking that drives results for leading marketers. It has over 30 years of experience in dozens of industries helping involve people with brands in ways that inspire them to take action. Mastermind has a total, data-driven approach that drives brand consideration, tria...