08:15:37 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Data Deposit Box Inc
Symbol DDB
Shares Issued 28,546,306
Close 2015-08-28 C$ 0.50
Market Cap C$ 14,273,153
Recent Sedar Documents

Data Deposit Box loses $3.32-million in H1 2015

2015-08-31 10:30 ET - News Release

Mr. W. Clark Kent reports

DATA DEPOSIT BOX REPORTS Q2 RESULTS

Data Deposit Box Inc. has released its second quarter 2015 results.

The company reported a loss of $3,325,927 for the six months ended June 30, 2015. The majority of this loss is attributable to the costs associated with the going-public transaction earlier in the year, which involved listing costs of $1,827,348 and higher professional fees (legal and audit increased by $316,351 from the previous year). In addition, the company incurred shareholder information charges of $112,067, which were new this year as a result of being a public company.

The company has made significant steps, as it transitions its business from direct sales to OEM (original equipment manufacturer) and MSP (managed service provider) sales channels. These efforts are reflected in the increase in sales and marketing costs from $69,167 in 2014 to $233,721 in 2015. The results of these efforts are expected to show beginning in late 2015 and in 2016.

In addition, the company has been directing its efforts toward research and development, and new products/services which it anticipates to be a significant source of its sales growth and revenue in the near future.

The financial results show a slight decline in sales of $294,000 which had been expected given the shift in focus to an MSP enabler strategy from direct business and the lag that is anticipated until the revenue from these new efforts is realized.

The company's Q2 financials and MD&A (management's discussion and analysis) can be found on the Data Deposit Box Inc. SEDAR profile.

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