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Mastermind Net Income Up 430% and 270% respectively for 3- and 9- month period ended June 30, 2022*
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Mastermind, Inc. (OTC-PINK:MMND) reported its financial results for the quarter and nine months ended June 30, 2022. The company achieved a net income of $573,230 for the nine-month period, a 26% increase year-over-year. Excluding $301,750 of PPP loan forgiveness from 2021, net income surged over 270%. Quarter revenues reached $1,460,832, up 22% compared to the previous year. Stockholders’ equity also increased by 53% to $2,601,346. CEO Dan Dodson expressed a positive outlook for continued growth and potential acquisitions.
Positive
Net Income for 9 months increased by 26% year-over-year.
Net Income for the quarter surged by 430% when excluding PPP loan forgiveness.
Quarter revenues rose by 22% year-over-year.
Stockholders' Equity increased by 53%.
Negative
None.
ATLANTA--(BUSINESS WIRE)--
Mastermind, Inc. (OTC QB: MMND), a leading vertically-integrated digital marketing company that designs, creates and activates marketing initiatives for global brands, today announced financial results for the 3 months and 9 months ended 6-30-22 for FY 2022, ended September 30, 2022.
Dan Dodson, CEO of Mastermind, commented, “The Mastermind team has done an outstanding job of driving revenue across numerous marketing disciplines including influencer, content, social, and mobile. Net Income is up over 25% in FYE 9/30/22 over FYE 9/30/21 through the first nine months, and over 270% when the PPP forgiveness is excluded from 9/30/21 results. Business looks very positive for the balance of this year and next. Mastermind is also actively pursuing acquisitions.”
Period Ended 6-30-22 Highlights
Net Income for the 9-month period ending 6/30/22 was $573,230, an increase of 26% over the comparable period in 2021, and an increase of 270% over the comparable period when $301,750 of PPP Loan forgiveness is excluded from 2021 results
Net Income for the quarter ended 6/30/22 was $426,315 an increase of 6% over the comparable period in 2021, and an increase of 430% when $301,750 of PPP Loan forgiveness is excluded from 2021 comparable quarter results
Revenues for the quarter ended ending 6/30/22 were $1,460,832 an increase of 22% over the comparable period in 2021
Stockholders’ Equity was $2,601,346 at 6/30/22, an increase of 53% over the comparable period in 2021
Detailed financial information can be found in Mastermind’s Quarterly Report on Form 10-Q for the period ended June 30, 2022, as filed with the Securities Exchange Commission on August 19, 2022.
About Mastermind, Inc.
Mastermind, Inc. provides thinking that drives results for leading marketers. It has almost 40 years of experience in dozens of industries helping involve people with leading brands in ways that inspire them to take action. Mastermind has a total, data-driven approach that drives brand consideration, trial, loyalty, and advocacy. The company has extensive marketing expertise in Content, Digital, Influencer, Social, Promotion, Channel Optimization, and Digital Issues Management. This allows Mastermind to create and execute multi-dimensional campaigns that drive results. For more information about Mastermind, Inc., please visit: www.MastermindMarketing.com.
Forward-Looking Statements
This press release of Mastermind, Inc. (the “Company”) contains, or may contain, among other things, certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission. Actual results (including, without limitation, market acceptance of the Company’s services; competition from existing products/services or new products/services that may emerge; the implementation of the Company’s business model and strategic plans for its business and its services; estimates of the Company’s future revenue, expenses, capital requirements and need for financing; and developments relating to the Company’s competitors) may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
*when $301,750 of PPP loan forgiveness is excluded from results of quarter ended 6/30/21
