Mastermind Revenue Up for 9 Months Ending 6/30/23

Rhea-AI Summary

Mastermind, Inc. (OTC QB:MMND) released its financial results for Q3 2023, showing consistent revenue and profits. Revenue increased by 3.2% to $3,498,000. Operating Income was $409,000. Current Assets increased by 8.1% to $3,595,000. Current Liabilities reduced by 31% to $382,000.

ATLANTA--(BUSINESS WIRE)-- Today, Mastermind, Inc. (OTC QB:MMND) – a leading vertically-integrated digital marketing firm specializing in designing, creating, and activating marketing campaigns for global brands - released its financial results for the third quarter ending June 30, 2023.

The solid results for 9-month period ending June 30, 2023 demonstrated consistent revenue and profits for Mastermind:

• Revenue was $3,498,000, an increase of 3.2% over the comparable period.
• Operating Income was $409,000 for the period
• Current Assets increased 8.1% to $3,595,000
• Current Liabilities were reduced 31% to $382,000

“We were able to grow revenues and remain profitable despite increasing pressure on salary expenses and costs related to our announced merger (investment bank fees, legal fees, accounting fees, etc.). We aim to close on the announced merger prior to our year-end of 9-30-23. The bank failures earlier this calendar year have increased complexity of financing for the transaction. However, budget freezes from decreased consumer/business purchasing in certain client sectors are beginning to ease, giving way to increased client spending that is expected to enhance our revenue and profitability in the coming quarters,” said Dan Dodson, CEO of Mastermind.

For a comprehensive breakdown of Mastermind's financial performance, please refer to the company's Quarterly Report on Form 10-Q for the period ending June 30, 2023. This report was filed with the Securities Exchange Commission on August 15, 2023, and contains detailed financial information.

About Mastermind, Inc.

Mastermind, Inc. provides thinking that drives results for leading marketers. It has 40 years of experience in dozens of industries helping drive results for leading brands. Mastermind has a total, data-driven approach that drives brand consideration, trial, loyalty, and advocacy. The company has extensive marketing expertise in Content, Digital, Mobile, 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/20230816535469/en/

Mastermind Investor Relations

investorrelations@mastermindmarketing.com

Source: Mastermind, Inc.

FAQ

What is the ticker symbol for Mastermind, Inc.?

The ticker symbol for Mastermind, Inc. is MMND.

What were the financial results for Q3 2023?

In Q3 2023, Mastermind, Inc. reported a revenue of $3,498,000, an increase of 3.2% compared to the same period last year. Operating Income was $409,000.

How did the company's assets and liabilities change in Q3 2023?

In Q3 2023, Mastermind, Inc. saw an 8.1% increase in Current Assets, reaching $3,595,000. Current Liabilities reduced by 31% to $382,000.

What did the CEO say about the financial results?

The CEO of Mastermind, Inc., Dan Dodson, stated that despite increasing pressure on salary expenses and costs related to the announced merger, the company was able to grow revenues and remain profitable. He also mentioned that budget freezes are beginning to ease, leading to increased client spending expected to enhance revenue and profitability in the coming quarters.

Where can I find more detailed financial information?

For a comprehensive breakdown of Mastermind's financial performance, please refer to the company's Quarterly Report on Form 10-Q for the period ending June 30, 2023. The report was filed with the Securities Exchange Commission on August 15, 2023.