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Mastermind Posts Almost 10-fold Increase in Net Income for 3 months ended December 31, 2021
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Mastermind, Inc. (OTC: MMND) reported financial results for the three months ended December 31, 2021 and fiscal year 2021 ending September 30, 2021. Key highlights include a net income of $46,435 for Q1, significantly up from $4,739 in the previous year. Gross profit also rose by 4%, totaling $533,457. For the full year, net income reached $62,211, a staggering increase of 957%. Additionally, stockholder equity increased by $50,935 during the quarter.
Positive
Net income for Q1 was $46,435, up from $4,739 year-over-year.
Gross profit increased by 4% to $533,457 for the quarter.
Full-year net income rose by 957% to $62,211.
Stockholder equity increased by $50,935 during the quarter.
Negative
Client marketing budgets remain conservative compared to pre-pandemic levels.
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 ended 12-31-21 and FY 2021, ended September 30, 2021.
Dan Dodson, CEO of Mastermind, commented, “We are beginning to see some loosening of client marketing budgets, but they still remain conservative compared to pre-pandemic levels. We remain optimistic regarding revenue growth from mobile initiatives that are being considered by certain clients. The first fiscal quarter ended 12/31 is typically slower from a net income standpoint, however our Net Income was $46,435 for the quarter compared to $4,739 for the comparable period of the previous year.”
Fiscal Quarter Ended 12-31-21 Highlights
Gross Profit for FQE 12/31/21 was $533,457, an increase of 4% over FQE 12/31/2020
Net Income for 2021 was $62,211, an increase of 957% over 2020
Stockholder equity increased $50,935 during the quarter
Detailed financial information can be found in Mastermind’s Quarterly Report on Form 10-Q for the period ended December 31, 2021, as filed with the Securities Exchange Commission on February 22, 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.
