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.
Assets
Cash & AR $ 180,170
Inventory $. 4,671,540
Vehicles $ 154,686
Equipment $ 138,735
Building Deposits $. 195,000
Total $. 5,340,131
(Note: Estimated valuation of 2 Patents Pending $5,000,000)Not Included in Asset Calculations
Liabilities
Notes $ 18,971
(Note-All previous convertible institutional notes, interest and liabilities associated with those notes have been paid in full)
Loans (new 12 month) $ 1,522,000
Payables including Inventory $ 1,702,843
Total $ 3,243,814
Profit and Loss
Revenue & Income $6,284,609
The 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 $2,398,250
For 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 $504,629
For 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 $3,381,730
For the three month period ended September 30, 2020, we recognized a net profit of $3,381,730 (unaudited) due to the factors discussed above.