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. AS-IP TECH INC (1067873) 10-Q published on Sep 16, 2020 at 10:24 am
Certain amounts in the prior periods presented have been reclassified to conform to the current period financial statement presentation. These reclassifications have no effect on previously reported net income.
In the three months ended March 31, 2020 and March 31, 2019 respectively, the Company recorded revenue of $3,838 and $8,224 from entities affiliated through common stockholders and directors for BizjetMobile service fees. In the nine months ended March 31, 2020 and March 31, 2019 respectively, the Company recorded revenue of $18,157 and $32,724 from entities affiliated through common stockholders and directors for BizjetMobile service fees. In the nine months ended March 31, 2020 and March 31, 2019 respectively, the Company recorded revenue of $22,980 and $29,970 from entities affiliated through common stockholders and directors for BizjetMobile system sales.
In the three months ended March 31, 2020 and March 31, 2019 respectively, the Company incurred expenses of approximately $24,000 and $24,000 respectively to entities affiliated through common stockholders and directors for management expenses. In the nine months ended March 31, 2020 and March 31, 2019 respectively, the Company incurred expenses of approximately $72,000 and $72,000 respectively to entities affiliated through common stockholders and directors for management expenses.
The Company incurred operating costs of $538,731 in the nine months ended March 31, 2020 and $506,284 in the nine months ended March 31, 2019. Main components are engineering, marketing and management expenses. In the nine months ended March 31, 2020, the Company recorded an Operating Loss of $512,218 compared to an Operating Loss of $467,456 in the nine months ended March 31, 2019.