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Jeantex Group files form 10QSB for Q1 2006
26 May '06
2 min read
Jeantex Group Inc, a company engaged in the design, development, manufacturing, and marketing of consumer products for the apparel markets worldwide, commented on financial results for the first quarter ended March 31st 2006.
The company had $444,390 revenues for the quarter ended March 31st 2006, which included the operations of Jeantex Group Inc, Jeantex Inc and Yves Castaldi Corp, and no revenue during the quarter ended March 31st 2005 due to the restatement of the discontinued business of Lexor International Inc, a previous subsidiary of the company.
Cost of goods sold for the quarter ended March 31st 2006 was $323,757, compared to none in the same period ended March 31st 2005. Gross profit for the quarter ended March 31st 2006 was $120,633 or 27.15 percent, compared to none in the same period ended March 31st 2005, which was the result of the restatement of the discontinued business of Lexor International Inc.
The company had a loss from operations of $1,321,734 for the quarter ended March 31st 2006 as compared to a loss from operations of $0 for the corresponding quarter ended March 31st 2005. This was mainly due to the increase in professional services, including non-cash compensations for consulting and reorganization expenses, as well as general and administrative expenses.
The company had a net loss of $1,324,097 from continuing operations for the quarter ended March 31st 2006 as compared to a net loss of $0 for the quarter ended March 31st 2005.
The company expects the letter 'E' to be removed from the stock symbol on May 30th 2006 and will provide a corporate update including forward guidance to the investment community next week.
Jeantex Group Inc, through its wholly owned subsidiary Jeantex Inc, engages in the design, development, manufacturing, and marketing of consumer products for the apparel markets worldwide.
The company had $444,390 revenues for the quarter ended March 31st 2006, which included the operations of Jeantex Group Inc, Jeantex Inc and Yves Castaldi Corp, and no revenue during the quarter ended March 31st 2005 due to the restatement of the discontinued business of Lexor International Inc, a previous subsidiary of the company.
Cost of goods sold for the quarter ended March 31st 2006 was $323,757, compared to none in the same period ended March 31st 2005. Gross profit for the quarter ended March 31st 2006 was $120,633 or 27.15 percent, compared to none in the same period ended March 31st 2005, which was the result of the restatement of the discontinued business of Lexor International Inc.
The company had a loss from operations of $1,321,734 for the quarter ended March 31st 2006 as compared to a loss from operations of $0 for the corresponding quarter ended March 31st 2005. This was mainly due to the increase in professional services, including non-cash compensations for consulting and reorganization expenses, as well as general and administrative expenses.
The company had a net loss of $1,324,097 from continuing operations for the quarter ended March 31st 2006 as compared to a net loss of $0 for the quarter ended March 31st 2005.
The company expects the letter 'E' to be removed from the stock symbol on May 30th 2006 and will provide a corporate update including forward guidance to the investment community next week.
Jeantex Group Inc, through its wholly owned subsidiary Jeantex Inc, engages in the design, development, manufacturing, and marketing of consumer products for the apparel markets worldwide.
Jeantex Group Inc
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