Mastermind, Inc. (OTC QB: MMND), a leading involvement marketing agency that develops and executes social and digital marketing campaigns for global brands, today announced financial results for the quarter and nine months ending June 30, 2019 that showed year over year growth in revenue and gross profit.
“This is Mastermind’s sixth consecutive quarterly profit since becoming a public entity in Q1 2018. Our business is solid and growing. For the quarter ended June 30, 2019, we had gross profit of $1,058,400 and income from operations of $96,171. Our G&A expenses increased in 2019 because we added additional staff to grow our business with new and existing clients and develop key strategic growth initiatives such as an augmented reality marketing offering, digital intelligence and optimization practice, and content marketing automation. Investing in these areas will give us additional opportunity to drive revenue in the coming quarters,” stated Daniel Dodson, CEO of Mastermind. “We also began discussions with several potential banking partners to provide capital for our strategic acquisition strategy, and we anticipate hiring an investor relations firm in the coming months.”
Highlights from Mastermind’s financial results reported include:
- Net income of $67,762 and $375,183 for the three month and nine month periods – the sixth consecutive quarterly profit
- Total revenues for the 9 months increased 8 percent from $3,670,474 to $3,949,398
- Gross profit for the 9 months increased 9 percent from $3,138,444 to $3,405,262
- Total assets increased 14 percent from $2,130,568 to $2,418,783
- Stockholders’ equity increased 21 percent from $1,787,619 to $2,162,802
Detailed financial information can be found in Mastermind’s Annual Report on Form 10-K for the period ended September 30, 2019, and Quarterly Reports on Forms 10-Q for the period ended June 30, 2019 and 2018 filed with the Securities Exchange Commission on August 19, 2019.
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 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 expertise in Content Marketing, Digital Marketing, Influencer Marketing, Social & Community Management, Promotion, Digital Intelligence/Optimization, and Digital Issues Management. This allows Mastermind to create and execute multi-dimensional campaigns that drive results. More information about Mastermind, Inc. is available at its website: www.MastermindMarketing.com.
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.