Business
OPTEC INternational Inc Interim Financial Statements for Period Ending September 30, 2020
OPTEC INternational Inc Interim Financial Statements for Period Ending September 30, 2020.
About this update from Optec International, Inc.
[{"type":"text","content":"Optec International Inc.Interim Financial Overview for Quarter Ending September 30, 2020(Unaudited)Preliminary Projections are based on current numbers which have not yet been finalized for the final Financial Disclosure Statement due November 15th, 2020 for OTC Markets. AssetsCash & AR $ 180,170Inventory $. 4,671,540Vehicles $ 154,686Equipment $ 138,735Building Deposits $. 195,000Total $. 5,340,131(Note: Estimated valuation of 2 Patents Pending $5,000,000)Not Included in Asset CalculationsLiabilitiesNotes $ 18,971(Note-All previous convertible institutional notes, interest and liabilities associated with those notes have been paid in full) Loans (new 12 month) $ 1,522,000Payables including Inventory $ 1,702,843Total $ 3,243,814 Profit and LossRevenue & Income $6,284,609The Company's revenues have been generated primarily through the sale of the Company’s UVC products, PPE masks, and Iwand sales. Including wholesale lots of KN 95 Masks. Cost of Goods $2,398,250For the three month period ended September 30, 2020, we had cost of goods of $2,398,250 relating to the sale of our UVC, PPE product line and masks. Expenses $504,629For the three month period ended September 30, 2020, we incurred total operating expenses of $504,629 associated with our opertions and the sale and shipping of our product lines, costs also include Scott Street distribution center build out & equipment. Net Income $3,381,730For the three month period ended September 30, 2020, we recognized a net profit of $3,381,730 (unaudited) due to the factors discussed above. ","length":1878,"tagName":"div"}]