Upexi(UPXI)2025-05-16 10:44Revenue Performance - Revenue for the three months ended March 31, 2025, decreased by $2,062,762 or 39% to $3,160,480 compared to $5,223,242 in the same period last year, primarily due to a strategic shift away from the recommerce business[164] - For the nine months ended March 31, 2025, revenue declined by $9,438,325 or 45% to $11,522,487, with approximately $8,277,000 of the decline related to the strategic shift away from recommerce[173] Cost and Profitability - Cost of revenue decreased by $2,354,185 or 60%, leading to a gross profit increase of approximately $290,000 and a gross profit margin increase to 49% from 24% year-over-year[165] - The net loss for the three months ended March 31, 2025, was $3,831,660, a decrease from a loss of $4,118,612 in the same period last year[172] Expenses - General and administrative expenses increased by $828,028 or 46%, attributed to legal and auditing costs, with expectations for normalization post-restructuring[168] Cash Flow and Working Capital - Cash flows used in operating activities for continuing operations were $(4,137,346) for the nine months ended March 31, 2025, compared to $(3,700,706) in the prior year[184] - The company had current assets of $3,968,157 and current liabilities of $10,796,201 as of March 31, 2025, resulting in a working capital deficit of $(6,828,044)[183] - Management expects sufficient working capital to fund operations and meet debt obligations over the next twelve months following the issuance of the financial statements[189] Investment Activities - Net cash provided by investing activities for the nine months ended March 31, 2025, was $5,757,517, primarily from the sale of a building and collection of the purchase price for E-core[186] - On April 24, 2025, the company closed a private placement offering, selling 35,970,383 shares at $2.28 per share, raising approximately $92,586,000 net[188]