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. Be Active Holdings, Inc. (1514514) 10-Q published on Nov 21, 2016 at 5:17 pm
Reporting Period: Sep 29, 2016
Depreciation and amortization expense for the three and nine months ended September 30, 2016 and 2015 were $1,638 and $4,913 and $1,672 and $5,014, respectively.
On February 25, 2015, one stockholder agreed to release the Company from its $25,555 loan obligation to him which was recorded as forgiveness of debt income for the nine months ended September 30, 2015. During the nine months ended September 30, 2016, the Company repaid approximately $110,000 of advances received in 2015. In August 2016, two of the executive officers advanced the Company a total of $8,285 to fund expenses due.
Sales to one customer of the Company accounted for 100% of the sales during the three and nine months ended September 30, 2016. Sales to one customer of the Company accounted for 76% and 86% of sales for the three and nine months ended September 30, 2015 and represented 74% of accounts receivable for the three and nine months ended September 30, 2015.
Cost of goods sold for the nine months ended September 30, 2016 was $80,142, as compared to $170,670 for the nine months ended September 30, 2015. The decrease of $90,528 is attributable to a decrease in production and sales and write off of $69,657 of inventory.