STL Marketing Group, Inc. (OTCMKTS:STLK) Files Form 10-Q
STL Marketing Group, Inc. (OTCMKTS:STLK) submitted Form 10-Q wherein it stated that for the quarter closed September 2016 the net loss came at $(899,409) versus net loss of $(169,147) in the same quarter, a year earlier. The change in net loss is mainly due to a jump in the loss in change in the derivative fair value.
For the quarter closed September 2016, STL Marketing posted derivative loss of $(786,820) as against derivate loss of $(29,559) for the quarter closed September 2015. Additionally, the firm posted its first sales of $9,066 for the quarter closed September 2016, as against sales of $0 for the same period closed September 2015.
Operating costs surged by almost 1% during the quarter closed September 2016, over the quarter closed September 30, 2015. The jump in operating expenses can be mainly attributed to a decline in professional fees and a jump in general and administrative expenses related to the jump of marketing over the quarter closed September 2015.
STL Marketing has posted the deferment in private power production in Costa Rica and its impact on the firm. As of now, there is no clear view on when the government’s policies can modify, if ever. As previously stated, the firm has considerably eliminated or reduced any work or expenditures in Costa Rica. If the deferment in Costa Rica take more time to resolve, it is completely possible that STL Marketing will stop pursuing the Power Purchase Deal.
As an outcome of the deferment in Costa Rica, the firm has pivoted to technology, a segment where executive management has notable sales experience and expertise. STL Marketing’s efforts for the imminent 1 year are focused on software apps in the subsequent three areas: PhoneSuite Solutions international sale of VoIP PBX Systems, the commercialization, adoption and sale of F3TCH and the commercialization and sale of the Hound Software exclusive software platform including Data Wrangling, Automated Workflow, Telecommunications and Analytics modules.© Copyright 2016 OTC News Magazine. All rights reserved.