Get Started for Free Contexxia identifies hard-to-find pieces of information in SEC filings. No more highlighters, no more redlining, no more poring over huge documents. Capital Financial Holdings, Inc (944696) 10-Q published on May 16, 2019 at 12:37 pm
Reporting Period: Mar 30, 2019
The Company reported a net loss for the three months ended March 31, 2019, of $30,730, compared to a net income of $83,393 for the same quarter in 2018. The net loss for the three months ended March 31, 2019 compared to net income in the same period in 2018 is primarily due to decreased revenues and increased legal costs.
General and administrative expenses for the three months ended March 31, 2019 were $283,177, an increase of 27% from $222,830 for the same period ended March 31, 2018. The increase resulted from increases in legal and professional expense.
Interest expense for the three months ended March 31, 2019 was $7,791, a decrease of less than 1% from $8,173 for the same period ended March 31, 2018. The decrease is due to reduced interest payments made on amortization of the building mortgage during 2019.
Net cash used for operating activities was $82,006 for the three months ended March 31, 2019, as compared to net cash provided by operating activities of $35,075 during the three months ended March 31, 2018. The primary difference corresponds to reductions in commissions’ payable and accounts payables.
Net cash used in investing activities was $7,484 for the three months ended March 31, 2019, as compared to net cash used in investing activities of $4,548 for the three months ended March 31, 2018. The primary difference is attributable to increased mortgage principal payments in 2019 related to the office building compared to the monthly loan principal payments made in 2018.