EQUATOR Beverage Company Reports November 2023 Results

Rhea-AI Summary

EQUATOR Beverage Company (OTCQB:MOJO) reports impressive financial results for November 2023, including a 67% increase in net revenue, a 129% increase in gross margin, and a 291% increase in taxable income compared to the same period last year. The company also repurchased 21,250 shares of its common stock in November and applied for DTC FAST clearing, expecting approval soon.

Positive

• Impressive 67% increase in net revenue for November 2023 compared to the same period last year
• Significant 129% increase in gross margin for November 2023 compared to the same period last year
• Substantial 291% increase in taxable income for November 2023 compared to the same period last year
• Trailing 12-month revenue for 2023 increased by 23% compared to 2022
• Initiated share repurchase of 21,250 shares in November 2023
• Applied for DTC FAST clearing to settle trades electronically immediately and gain visibility of trading activity

Negative

• None.

JERSEY CITY, NJ / ACCESSWIRE / December 1, 2023 / EQUATOR Beverage Company (OTCQB:MOJO) reports its results of operations for the month ended November 30, 2023.

Highlights include:

• November 2023 Net Revenue was $187,521, up from $112,342 for the same period last year. This was a $75,179 increase or 67%.
• November 2023 Gross Margin was $88,207, up from $38,484 for the same period last year. This was a 49,723 increase or 129%. November 2023 Gross Margin Percentage was 47%, up from 34% for the same period last year.
• November 2023 Taxable Income was $24,508, up from a Net Loss of $12,835 for the same period last year. This was a $37,342 increase or 291%.
• The trailing 12-month revenue for 2023 was $2,268,050 compared to trailing 12-month revenue for 2022 of $1,847,325. This was a $420,725 increase or 23%.

During November EQUATOR repurchased 21,250 shares of its common stock. The total shares repurchased in 2023 is 401,269 shares.

EQUATOR applied for DTC FAST clearing in early November. We expect to have approval in the next few days. DTC FAST will allow Brokerage Firms to settle trades electronically immediately. It will also provide EQUATOR with many trading reports that will give the Company visibility of trading activity on the buy and sell side.

EQUATOR continues to seek opportunities to repurchase shares of its common stock that are restricted from sale or publicly traded. Please call EQUATOR at 929 264 7944 if you would like to sell your shares.

For additional information contact:

Glenn Simpson CEO
EQUATOR Beverage Company
917 574 1690
Symbol Ticker: MOJO
Website: www.equatorbeverage.com

Important Cautions Regarding Forward Looking Statements

This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended and such section 21E of the Securities Act of 1934, amended. These forward-looking statements should not be used to make an investment decision. The words 'estimate,' 'possible' and 'seeking' and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risk.

SOURCE: Equator Beverage Company

View source version on accesswire.com:
https://www.accesswire.com/811751/equator-beverage-company-reports-november-2023-results

FAQ

What are the financial highlights of EQUATOR Beverage Company (OTCQB:MOJO) for November 2023?

EQUATOR reported a 67% increase in net revenue, a 129% increase in gross margin, and a 291% increase in taxable income compared to the same period last year. The trailing 12-month revenue for 2023 also increased by 23% compared to 2022.

How many shares of common stock did EQUATOR repurchase in November 2023?

EQUATOR repurchased 21,250 shares of its common stock in November 2023.

What is DTC FAST clearing, and why did EQUATOR apply for it?

DTC FAST clearing allows Brokerage Firms to settle trades electronically immediately and provides visibility of trading activity on the buy and sell side. EQUATOR applied for it to gain these benefits.

How can shareholders sell their shares of EQUATOR Beverage Company (OTCQB:MOJO)?

Shareholders can contact EQUATOR at 929 264 7944 if they would like to sell their shares.

Who is the CEO of EQUATOR Beverage Company?

The CEO of EQUATOR Beverage Company is Glenn Simpson. You can contact him at 917 574 1690.