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. Glucose Health, Inc. (1420108) 10-Q published on Nov 14, 2017 at 6:01 am
On October 27, 2017, the Company converted a $6,000 outstanding balance on a note into 12,000 shares of the Company’s common stock pursuant to a contractual agreement and retired the note. The common stock issued upon conversion of the note was valued at $1,931 and resulted in a gain of $4,069
Our principal business strategy for the next twelve months will be to introduce and manufacture new Glucose Health® products including flavor and packaging options; to implement marketing and sales initiatives; and to earn significant revenues and profits, of which there is no guarantee. Our sales initiatives will be focused upon securing repeat purchase orders for Glucose Health® products from national and regional pharmacy retailers. Our marketing initiatives will be primarily to support Glucose Health® channel sales through national and regional retail partners. We intend to continue advertising in and sponsoring, various print, digital and social media platforms, which align with the interest of our customers in dietary supplements related to metabolic syndrome, pre-diabetes and Type-2 diabetes. Secondarily to our primary sales and marketing initiatives above, we also intend to grow our online sales of Glucose Health® through sales from our product website and sales through other online marketplaces such as Amazon.
We incurred total operating expenses of $18,358 compared to $52,932 for the three-month periods ended September 30, 2017 and 2016, respectively. Our decreased operating expenses in the 2017 period is due to decreases in advertising and promotion fees, professional fees and stock based compensation.
We incurred total interest expense of $5,720 compared to $105,263 for the three-month periods ended September 30, 2017 and 2016, respectively. Our decreased total interest expense in the 2017 period is due to our prior year expensing of the beneficial conversion discount of our convertible notes payable. The Company fully amortized the beneficial conversion discount for all existing notes in 2016.
We incurred total operating expenses of $64,841 compared to $80,580 for the nine-month periods ended September 30, 2017 and 2016, respectively. Our decreased operating expenses in the 2017 period is due to a decrease in advertising and promotion expense and an increase in bad debt expense, professional fees, insurance expense and office expense.