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. Digital Brand Media & Marketing Group, Inc. (1127475) 10-Q published on Jul 09, 2021 at 12:30 pm
During the nine-month period ended May 31, 2021, our cost of sales decreased due to reduction in compensation commensurate with our decreased revenues when compared to the prior period. During the three-month period ended May 31, 2021, our cost of sales were consistent with the prior period.
The sales, general and administrative expenses during the nine-month period ended May 31, 2021 were consistent when compared to the prior period. Such expenses increased during the three-month period ended May 31, 2021 when compared to the prior quarter due to increased business development activities.
Interest expense, which include interest accrued on certain notes and loans, decreased during the three and nine-month period ended May 31, 2021 primarily attributable to the issuance in the comparable prior periods of more loan payables with additional considerations.
The increase on derivative liabilities during the nine-month period ended May 31, 2021 is primarily attributable to a decrease in the Company’s estimated volatility used in the assumptions to compute its fair value at May 31, 2021 when compared to May 31, 2020