ABCCF $1.058 (-2%)

ABCN:APH $1.400 (-2.1%)

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ACB:APH $9.030 (+0.67%)

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ACBFF $6.860 (+0.29%)

ACNNF $0.954 (-0.84%)

AERO $2.395 (-1.84%)

AGTK $0.015 (-0.69%)

11

AMMJ $0.807 (+0.88%)

11

APH:APH $11.690 (+1.56%)

11

APHQF $8.880 (+0.68%)

ARNA $49.470 (-0.32%)

ATT:CNX $0.170 (-2.86%)

ATTBF $0.136 (-1.16%)

11

AVXL $4.180 (+2.45%)

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AXIM $3.150 (+1.78%)

BE:CNX $1.530 (-0.65%)

11

BITCF $0.370 (+3.35%)

BLEVF $1.140 (-2.01%)

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BLIS:CNX $0.345 (+0%)

BLO:CNX $1.510 (-3.82%)

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BLOK:APH $0.375 (+8.7%)

BLOZF $1.150 (-4.96%)

BLPG $0.030 (-2.46%)

BUDZ $5.270 (-0.38%)

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BXNG $0.550 (+21.95%)

11

CAFS $0.016 (+33.61%)

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CALI:CNX $0.350 (+12.9%)

11

CAMDF $0.000 (+0%)

CANL $0.220 (-2.22%)

11

CANN $3.725 (+0.4%)

11

CARA $16.800 (+0.24%)

CBDS $3.940 (-2.23%)

CBIS $0.064 (-2.38%)

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CBW:APH $0.000 (+0%)

CBWTF $0.845 (-2.87%)

11

CGC $29.870 (+1.29%)

CGRW $1.300 (-2.26%)

11

CHOO:CNX $1.370 (+19.13%)

11

CHOOF $1.040 (+19.54%)

11

CMED:APH $0.000 (+0%)

11

CMM:APH $0.000 (+0%)

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CMMDF $20.988 (+0%)

CNAB $0.850 (-1.16%)

CNBX $0.975 (-2.5%)

11

CND:CNX $0.000 (+0%)

11

CNGGF $2.130 (+0%)

11

CNNRF $4.200 (+1.94%)

11

CNTTF $6.241 (+1.84%)

11

CNZCF $0.000 (+0%)

CODI $17.000 (-1.16%)

11

CPMD $1.000 (+0%)

11

CRBP $6.100 (+0%)

11

CRON $7.020 (+1.3%)

11

CRON:APH $9.270 (+2.21%)

CROP:CNX $0.250 (-7.41%)

11

CRPGF $0.389 (+0%)

CRWG $0.009 (-6%)

CRXPF $0.193 (-6.38%)

11

CRZ:APH $0.000 (+0%)

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CRZ:CNX $5.500 (+0.55%)

11

CURR $1.000 (+0%)

11

CVSI $2.110 (+6.03%)

11

CXBS $0.400 (+33.33%)

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CYX:APH $0.070 (+0%)

11

DIGP $0.200 (+8%)

DJACF $0.988 (-3.81%)

11

DOJA $0.000 (+0%)

11

EAPH $0.016 (+6.67%)

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EAT:CNX $0.460 (+1.1%)

11

EDXC $0.043 (+2.37%)

11

EMC:APH $1.410 (+0.71%)

EMH:APH $3.920 (-2.24%)

EMHTF $2.990 (-2.61%)

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EMMBF $1.068 (+0.94%)

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ERBB $0.001 (+0%)

EVIO $1.100 (-0.48%)

FFRMF $0.330 (-1.92%)

FFT:CNX $0.430 (-2.27%)

FIRE:APH $1.620 (-2.41%)

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FNNZF $0.264 (+2.93%)

GBLX $0.485 (-1.21%)

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GENE:APH $1.660 (+0%)

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GLDFF $0.176 (+0.63%)

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GLH:CNX $0.230 (+0%)

GLNNF $0.442 (-0.83%)

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GNBT $2.610 (+0%)

GRNH $0.037 (-1.33%)

GRSO $0.012 (-5.16%)

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GRWC $0.114 (+9.19%)

GRWG $4.210 (-0.47%)

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GTSO $0.037 (+59.48%)

GWPH $146.280 (-1.58%)

HC:CNX $0.910 (-8.08%)

HEMP $0.039 (-3.19%)

HEMP:APH $1.860 (-3.63%)

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HERB $0.058 (+0%)

HHPHF $0.678 (-11.05%)

HIKU:CNX $1.300 (-2.99%)

HIP:APH $0.660 (-1.49%)

HLSPY $0.885 (-0.56%)

HMLSF $13.908 (-0.86%)

HMPPF $1.400 (-5.74%)

HRVOF $0.571 (-6.9%)

HSTRF $0.250 (-8.39%)

HVT:APH $0.760 (-3.8%)

HYYDF $3.747 (-2.01%)

IAN:CNX $6.540 (-3.11%)

ICC:APH $1.430 (-0.69%)

ICCLF $1.081 (-2.66%)

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IGC $0.547 (+1.49%)

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IGX:APH $0.990 (+0%)

IIPR $35.750 (-2.43%)

IMLFF $0.645 (-2.42%)

IN:APH $0.840 (-2.33%)

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INQD $0.152 (+8.71%)

INSY $8.050 (-0.62%)

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ISOL:CNX $0.580 (+0%)

ISOLF $0.427 (-2.22%)

ITHUF $4.980 (-3.49%)

IVITF $1.254 (-2.59%)

KALTF $0.120 (-3.97%)

KAYS $0.149 (-1.14%)

KSHB $5.130 (-1.54%)

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LDS:CNX $0.910 (+7.06%)

LDSYF $0.637 (-3.49%)

LEAF:APH $25.960 (-2.22%)

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LHS:CNX $0.890 (+0%)

LHSIF $0.673 (-0.52%)

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LXRP $2.140 (+1.91%)

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LXX:CNX $2.840 (+0.35%)

MARI:CNX $1.780 (-1.66%)

MCIG $0.289 (-10.53%)

MDCL $1.650 (-2.37%)

MDM:CNX $0.370 (-9.76%)

MEDFF $19.700 (-2.99%)

MGWFF $0.410 (-0.02%)

MICWF $0.367 (-5.14%)

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MJ:CNX $0.500 (+0%)

MJNA $0.104 (-1.05%)

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MJTK $0.001 (+20%)

MMEN:CNX $4.690 (-1.26%)

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MNTR $1.050 (+0%)

MPX:CNX $0.920 (-2.13%)

MPXEF $0.696 (-1.35%)

MRPHF $0.282 (-6.34%)

MRRCF $1.340 (-3.36%)

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MSRT $0.250 (+2.34%)

MWM:CNX $0.475 (-3.06%)

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MYDX $0.005 (+8.1%)

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MYM:CNX $1.730 (+2.37%)

MYMMF $1.280 (-0.78%)

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N:APH $1.450 (+0%)

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N:CNX $0.000 (+0%)

NDEV $0.330 (-2.94%)

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NDVA:APH $0.730 (+0%)

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NINE:APH $1.500 (+0%)

NMUS $0.270 (-6.9%)

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NPK:APH $0.890 (+0%)

NRXCF $0.079 (-9.82%)

11

NSP:APH $0.180 (+0%)

NSPDF $0.135 (-4.81%)

11

NTEC $4.200 (+0%)

NTRR $0.120 (-7.69%)

11

NUU:APH $0.000 (+0%)

11

NVTQF $0.066 (+0%)

NWKRF $0.498 (-2.79%)

11

NXTTF $1.120 (+0.9%)

OGI:APH $5.280 (-3.47%)

OGRMF $4.010 (-3.96%)

11

OWCP $0.247 (+5.47%)

PHVAF $0.643 (-1.31%)

PKPH $0.150 (-9.09%)

PLPL $0.011 (-5%)

PMCB $0.084 (-0.71%)

11

PNPL $1.050 (+0%)

PNTV $0.051 (-1.33%)

11

POTN $0.308 (+0.89%)

PUF:CNX $0.770 (-3.75%)

PUFXF $0.571 (-4.8%)

QCA:CNX $0.300 (-3.23%)

11

QRSRF $0.000 (+0%)

11

RDDTF $1.003 (+1.31%)

11

REFG $0.043 (+7.5%)

RHT:APH $1.540 (-1.28%)

RMHB $0.011 (-1.43%)

11

RQB:CNX $0.820 (+0%)

RQHTF $1.178 (-2.68%)

11

RTI:APH $1.320 (+3.13%)

11

RVV:APH $0.200 (+0%)

RVVQF $0.620 (-0.64%)

RVVTF $0.146 (-0.84%)

11

SAGD $0.008 (+8%)

11

SCQBF $0.000 (+0%)

SING $0.051 (-20.59%)

SLTK $0.900 (-4.24%)

11

SMG $86.550 (+0.82%)

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SNN:CNX $8.100 (+0.5%)

SNNVF $6.110 (-0.06%)

SPLIF $0.339 (-0.08%)

SPRWF $1.232 (-3.03%)

11

SRNA $0.203 (+0.2%)

11

SSWH $0.200 (+0%)

11

SUWN $0.049 (+0%)

TBP:APH $0.690 (-1.43%)

TBPMF $0.524 (-1.13%)

11

TBQBF $0.000 (+0%)

11

TER:CNX $4.590 (+0%)

11

TGEN $3.680 (+3.96%)

11

TGIF:CNX $0.495 (+3.13%)

11

TGIFF $0.373 (+0.81%)

11

TGOD:APH $6.800 (+6.08%)

11

TGODF $5.164 (+5.59%)

11

THC:CNX $1.180 (+3.51%)

11

THCBF $0.866 (+0.7%)

THCX:APH $4.930 (-1.6%)

TRLFF $0.382 (-3.05%)

TRPX $4.390 (-3.94%)

TRSSF $3.370 (-3.49%)

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TRST:APH $8.230 (+1.73%)

11

TRTC $2.859 (+2.09%)

11

TURV $0.145 (+2.11%)

11

TWMJF $0.000 (+0%)

11

UBQU $0.007 (+0%)

11

VAPE $0.004 (+5.71%)

11

VBIO $1.350 (+0%)

VFF:APH $7.370 (-1.07%)

VFFIF $5.580 (-0.54%)

11

VIDA:CNX $0.850 (+0%)

11

VIN:CNX $0.520 (+0%)

11

VMNT $0.190 (+0%)

VPRB $0.042 (-7.96%)

11

VRNDF $1.135 (+0%)

VRT:CNX $0.360 (-2.7%)

VRTHF $0.282 (-6.31%)

WDDMF $1.331 (-2.86%)

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WEED:APH $39.280 (+2.03%)

WMD:APH $1.760 (-2.76%)

XXII $2.130 (-4.48%)

ZDPY $0.730 (-0.01%)

ZYNE $11.300 (-1.74%)

Articles > Solis Tek Inc. Announces Third Quarter and Nine Month 2017 Financial Results

Solis Tek Inc. Announces Third Quarter and Nine Month 2017 Financial Results
November 14, 2017

Solis Tek (SLTK) released its financial results for the third quarter that ended on September 30th.

Financial Highlights

  • During the quarter, Solis recorded a $1,489,511 net loss on $1,993,865 in revenue. The net loss is much higher than the amount reported during the same period last year and the increase is due to non-cash stock compensation costs, and increased selling, general and administrative costs. Revenue increased by 6% when compared to the same period last year and the increase was due to more market penetration and commercial cultivation facilities.
  • Cost of sales was $1,322,497 and gross profit was $671,368. As a percentage of revenue, gross profit was 33.7% compared to 34.1% during the same period last year and the decrease was due to product mix.
  • Selling, general and administrative were $2,050,189, which was 167% higher than the same period last year. The increase was due to increase in payroll, marketing, travel, trade shows, consulting fee, outbound freight, and sales commission to support the increase in revenues and stock compensation costs and increase in bad debt expenses.

Liquidity Highlights

  • As of September 30th, Solis had $194,129 in cash, $1.76 million in inventory, and an $8.2 million accumulated deficit.
  • Management believes that the company has sufficient cash and liquidity to meet its anticipated working capital for the next twelve months.
  • Solis has been financing operations primarily through private sales of common stock, a line of credit and loans from a third party financial institution related parties, and operations. Management expects the company’s primary capital source to be positive cash flow from operations, however, if this does not happen they will lower costs to achieve positive cash flow
  • So far this year, Solis has raised $455,000 by selling 511,957 shares as part of a private placement.

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