Mastermind Posts 183% Increase in Net Income for 6 months ended March 31, 2022

Rhea-AI Summary

Mastermind, Inc. (OTC-PINK: MMND) announced its financial results for the quarter and half-year ended March 31, 2022. The company reported a 183% increase in net income for the six-month period, totaling $115,680, and a 92% rise for the quarter, reaching $69,245. Revenues increased by 16% to $1,077,918. CEO Dan Dodson highlighted the success in social and mobile marketing, with positive growth anticipated for the remainder of the fiscal year. Acquisition discussions have also resumed.

Positive

• Net income increased by 183% for the six-month period, amounting to $115,680.
• Quarterly net income increased by 92% to $69,245.
• Quarterly revenues rose 16% to $1,077,918.
• Operating income for the quarter increased by 15% to $56,135.
• Continued growth in social and mobile marketing.

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 6 months ended 3-31-22 for FY 2022, ended September 30, 2022.

Dan Dodson, CEO of Mastermind, commented, “Mastermind had another strong quarter. Our team has been successful growing revenue particularly in the areas of social and mobile marketing. Net Income is up over 180% in FYE 9/30/22 over FYE 9/30/21 through the first six months, and business looks very positive for the balance of the year. Mastermind has also re-started acquisition discussions with a handful of targets.”

Fiscal Quarter Ended 3-31-22 Highlights

• Net Income for the 6-month period ending 3/31/22 was $115,680, an increase of 183% over the comparable period in 2021
• Net Income for the quarter ended 3/31/22 was $69,245 an increase of 92% over the comparable period in 2021
• Revenues for the quarter ended 3/31/22 was $1,077,918 an increase of 16% over the comparable period in 2021
• Income from operations was $56,135 for the quarter ended 3/31/22, an increase of 15% 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 March 31, 2022, as filed with the Securities Exchange Commission on May 23, 2022.

About Mastermind, Inc.

Mastermind, Inc. provides thinking that drives results for leading marketers. It has over 30 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220524005952/en/

Dan Dodson

CEO

dan.dodson@mastermindmarketing.com

Source: Mastermind, Inc.

FAQ

What were Mastermind's financial results for Q2 2022?

Mastermind reported a net income of $69,245 for the quarter ended March 31, 2022, a 92% increase compared to the previous year.

How much did Mastermind's revenue increase in Q2 2022?

Revenues for the quarter increased by 16% to $1,077,918.

What is the net income for Mastermind for the first half of FY 2022?

Mastermind's net income for the six months ending March 31, 2022, was $115,680, up 183% from the prior year.

What marketing areas showed growth for Mastermind?

Mastermind experienced growth particularly in social and mobile marketing.

Is Mastermind pursuing acquisitions?

Yes, Mastermind has restarted acquisition discussions with several targets.