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EQUATOR Beverage Company Releases First Quarter 2024 Financial Results

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11 months ago

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Jersey City, New Jersey–(Newsfile Corp. – May 10, 2024) – EQUATOR Beverage Company (OTCQB: MOJO) reports its financial results for the quarter ended March 31, 2024. Form 10Q was filed on March 10 May with the United States Securities and Exchange Commission.

Highlights include:

  • Revenue for the first quarter of 2024 was $640,653, an increase of $125,020 from $515,633 in the same period last year. This 24% increase was due to the increase in sales of all products.

  • Cost of revenue was $370,070 or 58% of revenue compared to $313,457 or 61% of revenue for the same period last year. This reduction was due to the increase in sales of our one-liter packages.

  • Gross margin for the first quarter of 2024 was $270,583 or 42% of revenue, up from $202,176 in the same period last year. This was due to the increase in the sale of one-liter products.

  • Q1 2024 net loss was $103,020, compared to Q1 2023 net profit of $4,485. This $107,505 decline in revenue was due in part to higher executive compensation in the quarter, which was primarily attributed to a higher market value of EQUATOR shares and an increase in selling expenses.

EQUATOR® drink

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For additional information contact:
CEO Glenn Simpson
EQUATOR Beverage Company
917 574 1690
Ticker Symbol: MOJO
Website: www.equatorbeverage.com

Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. These forward-looking statements should not be relied upon in making an investment decision. The words ‘estimate’, ‘possible’ and ‘seeking’ and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results may differ materially from those set forth, contemplated or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.

To view the original version of this press release, please visit https://www.newsfilecorp.com/release/207810

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