USLG Reports Fiscal 2022 Third Quarter Results, Record Revenue for Cortes Campers; Outlook Improving
USLG Reports Fiscal 2022 Third Quarter Results, Record Revenue for Cortes Campers; Outlook Improving
EUCLID, OH / ACCESSWIRE / November 23, 2022 / USLG, Inc. (OTC PINK:USLG) today announced its financial results for the third quarter of 2022, the three months ended September 30, 2022.
俄亥俄州欧几里德/ACCESSWIRE/2022年11月23日/USLG，Inc.(OTC PINK：USLG)今天公布了2022年第三季度的财务业绩，截至2022年9月30日的三个月。
Recent Highlights
最近的亮点
- Net sales for the three months ended September 30, 2022 were approximately $0.5 million, almost 25 times that of the prior-year period
- Net loss from continuing operations was $0.7 million, versus $0.2 million in the third quarter of 2021, reflecting investments in staffing, marketing, and expansion
- As of September 30, 2022, the Company's backlog was approximately $5.06 million, versus $5.1 million as of June 30, 2022
- The Company continues to add new states to its dealership territories - including, most recently, California - and remains on track for increased deliveries of Cortes Campers in the fourth quarter in 2022
- USLG met with investors and analysts at the LD Micro Conference on October 26, and the associated webcast presentation is available for viewing on the Company's website
- 截至2022年9月30日的三个月，净销售额约为50万美元，几乎是去年同期的25倍
- 持续运营的净亏损为70万美元，而2021年第三季度为20万美元，反映出在人员配备、营销和扩张方面的投资
- 截至2022年9月30日，该公司的积压金额约为506万美元，而截至2022年6月30日的积压金额为510万美元
- 该公司继续在其经销地区增加新的州-包括最近的加利福尼亚州-并继续按计划在2022年第四季度增加Cortes露营车的交付
- USLG于10月26日在LD Micro Conference上与投资者和分析师会面，相关的网络直播演示文稿可在公司网站上查看
"As promised, we delivered a record number of Cortes Campers during the third quarter and are on track for even higher shipments going forward," said Anthony Corpora, Chief Executive Officer. "Revenue rose to $0.5 million, and we continued to invest in expanding our dealership base to key states across the U.S. including, after the quarter, California, where our partnership with Hamilton & Jackson Investments is already resulting in inquiries and additional orders. We're also on schedule with regard to higher production levels which, we anticipate, will drive the Company to become cash flow positive during the first half of 2023. With our current backlog, manufacturing technology, unique camper attributes and strong demand, we are well positioned to see rapid growth in the quarters to come."
“正如承诺的那样，我们在第三季度交付了创纪录数量的Cortes露营者，并有望在未来获得更高的出货量，”首席执行官安东尼·科拉说。收入上升到50万美元，我们继续投资，将我们的经销商基础扩大到美国关键的州，包括本季度后的加利福尼亚州，我们与汉密尔顿-杰克逊投资公司在那里的合作已经导致了询价和额外的订单。我们还在按计划提高产量水平，我们预计，这将推动公司在2023年上半年实现现金流正增长。凭借我们目前的积压、制造技术、独特的露营属性和强劲的需求，我们处于有利地位，将在未来几个季度看到快速增长。
Third Quarter 2022 Results
2022年第三季度业绩
Net sales for the three months ended September 30, 2022 were $0.5 million compared with $21,000 in the prior-year period, reflecting sales by the Company's Cortes Campers subsidiary. Selling, general, and administrative expenses ("SG&A") were $0.5 million in the third quarter of 2022 versus $0.2 million in 2021 - primarily due to investments in marketing, sales, and staffing - and the Company posted a net loss from continuing operations of $0.7 million in 2022 versus $0.2 million in the prior-year period.
截至2022年9月30日的三个月的净销售额为50万美元，而去年同期为2.1万美元，反映了该公司的Cortes露营者子公司的销售额。2022年第三季度的销售、一般和行政费用(“SG&A”)为50万美元，而2021年为20万美元--主要是由于在营销、销售和员工方面的投资--该公司公布了2022年持续运营的净亏损70万美元，而去年同期为20万美元。
Balance Sheet Highlights
资产负债表亮点
As of September 30, 2022, the Company had approximately $68,000 of cash compared with $286,000 of cash as of December 31, 2021. Total current liabilities as of the end of the third quarter were $1.8 million compared with $2.4 million as of December 31, 2021.
截至2022年9月30日，该公司的现金约为6.8万美元，而截至2021年12月31日的现金为28.6万美元。截至第三季度末的流动负债总额为180万美元，而截至2021年12月31日的流动负债总额为240万美元。
About USLG
关于USLG
US Lighting Group (OTC:USLG) has three subsidiaries which design and market various products: Cortes Campers, LLC, for molded fiberglass travel trailers and campers; Fusion X Marine, LLC, for high-performance boats; Futuro Houses, LLC, for fiberglass houses; and one subsidiary, Mig Marine Corp., which manufacturers composite products. The Company and its subsidiaries have manufacturing and R&D facilities in Cleveland, Ohio. For additional information: uslightinggroup.com
美国照明集团(场外交易代码：USLG)有三家子公司设计和销售各种产品：用于模压玻璃纤维旅行拖车和露营车的Cortes Campers，LLC；用于高性能游艇的Fusion X Marine，LLC；用于玻璃纤维房屋的Futuro Houses，LLC；以及一家生产复合材料产品的子公司Mig Marine Corp.。该公司及其子公司在俄亥俄州克利夫兰设有制造和研发设施。欲了解更多信息，请访问uslightinggroup.com。
Forward-Looking Statements
前瞻性陈述
Certain statements in this news release, including, but not limited to, reference to distribution, demand, orders, sales goals, design effects, growth of the production and industries, may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. Statements included in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements are typically, but not always, identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements.
本新闻稿中的某些陈述，包括但不限于对分销、需求、订单、销售目标、设计效果、生产和行业增长的提及，可能包含符合1933年证券法第175条和1934年证券交易法第3b-6条的前瞻性信息，并受这些规则所创造的安全港的约束。除有关历史事实的陈述外，本新闻稿中包含的陈述均为前瞻性陈述。前瞻性陈述通常但不总是通过以下词语来识别：相信、预期、预期、打算、估计和类似的表达，或者它们本质上指的是未来的事件。尽管该公司认为这些前瞻性陈述中反映的预期是合理的，但它不能保证这些预期将被证明是正确的。实际结果可能与这些陈述所表明的结果大不相同。
Investor Relations Contact:
投资者关系联系人：
Chris Witty
646-438-9385
cwitty@darrowir.com
克里斯·威蒂
646-438-9385
邮箱：cwitty@darrowir.com
Tables to Follow
应遵循的表格
US LIGHTING GROUP, INC. AND SUBSIDIARIES
美国照明集团公司。及附属公司
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
简明合并业务报表
(Unaudited) / (Combined)
(未经审计)/(合并)
|
For the Three Months ended September 30, |
For the Nine Months ended
September 30,
|
|||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
Sales |
$ | 516,000 | $ | 21,000 | $ | 641,000 | $ | 23,000 | ||||||||
Cost of goods sold |
528,000 | - | 754,000 | 3,000 | ||||||||||||
Gross profit (loss) |
(12,000 | ) | 21,000 | (113,000 | ) | 20,000 | ||||||||||
Operating expenses: |
||||||||||||||||
Selling, general and administrative expenses |
526,000 | 240,000 | 1,134,000 | 859,000 | ||||||||||||
Product development costs |
78,000 | 2,000 | 123,000 | 41,000 | ||||||||||||
Total operating expenses |
604,000 | 242,000 | 1,257,000 | 900,000 | ||||||||||||
Loss from operations |
(616,000 | ) | (221,000 | ) | (1,370,000 | ) | (880,000 | ) | ||||||||
Other income (expense): |
||||||||||||||||
Other income (expense), net |
(4,000 | ) | 3,000 | 60,000 | 3,000 | |||||||||||
Extinguishment of debt - related party |
- | - | - | 9,000 | ||||||||||||
Extinguishment of debt |
- | 52,000 | - | 52,000 | ||||||||||||
Unrealized gain (loss) |
(32,000 | ) | (9,000 | ) | (288,000 | ) | 195,000 | |||||||||
Realized gain (loss) |
18,000 | - | (18,000 | ) | - | |||||||||||
Interest income |
1,000 | 7,000 | 4,000 | 7,000 | ||||||||||||
Interest expense, net |
(40,000 | ) | (17,000 | ) | (56,000 | ) | (17,000 | ) | ||||||||
Interest expense, related party |
- | (19,000 | ) | - | (75,000 | ) | ||||||||||
Gain on disposal of fixed assets |
10,000 | - | 23,000 | - | ||||||||||||
Total other income (expense) |
(47,000 | ) | 17,000 | (275,000 | ) | 174,000 | ||||||||||
Net loss from continuing operations |
(663,000 | ) | (204,000 | ) | (1,645,000 | ) | (706,000 | ) | ||||||||
Net income from sale of discontinued operations |
- | - | - | 3,915,000 | ||||||||||||
Net loss from discontinued operations |
- | (7,000 | ) | - | (158,000 | ) | ||||||||||
Net income (loss) |
$ | (663,000 | ) | $ | (211,000 | ) | $ | (1,645,000 | ) | $ | 3,051,000 | |||||
Basic loss per share from continuing operations |
$ | (0.00 | ) | $ | (0.00 | ) | $ | (0.02 | ) | $ | (0.01 | ) | ||||
Basic income (loss) per share from discontinued operations |
$ | - | $ | (0.00 | ) | $ | - | $ | 0.04 | |||||||
Basic income (loss) per share |
$ | (0.00 | ) | $ | (0.00 | ) | $ | (0.02 | ) | $ | 0.03 | |||||
Diluted income (loss) per share from discontinued operations |
$ | - | $ | (0.00 | ) | $ | - | $ | 0.03 | |||||||
Weighted average common shares outstanding, basic |
97,848,735 | 97,834,996 | 97,982,618 | 97,310,548 | ||||||||||||
Weighted average common shares outstanding, diluted |
97,848,735 | 97,834,996 | 97,982,618 | 97,310,548 | ||||||||||||
|
截至以下三个月 9月30日， |
在截至的9个月中
9月30日，
|
|||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
销售额 |
$ | 516,000 | $ | 21,000 | $ | 641,000 | $ | 23,000 | ||||||||
销货成本 |
528,000 | - | 754,000 | 3,000 | ||||||||||||
毛利(亏损) |
(12,000 | ) | 21,000 | (113,000 | ) | 20,000 | ||||||||||
运营费用： |
||||||||||||||||
销售、一般和行政费用 |
526,000 | 240,000 | 1,134,000 | 859,000 | ||||||||||||
产品开发成本 |
78,000 | 2,000 | 123,000 | 41,000 | ||||||||||||
总运营费用 |
604,000 | 242,000 | 1,257,000 | 900,000 | ||||||||||||
运营亏损 |
(616,000 | ) | (221,000 | ) | (1,370,000 | ) | (880,000 | ) | ||||||||
其他收入(支出)： |
||||||||||||||||
其他收入(费用)，净额 |
(4,000 | ) | 3,000 | 60,000 | 3,000 | |||||||||||
债务关联方的清偿 |
- | - | - | 9,000 | ||||||||||||
债务的清偿 |
- | 52,000 | - | 52,000 | ||||||||||||
未实现收益(亏损) |
(32,000 | ) | (9,000 | ) | (288,000 | ) | 195,000 | |||||||||
已实现损益 |
18,000 | - | (18,000 | ) | - | |||||||||||
利息收入 |
1,000 | 7,000 | 4,000 | 7,000 | ||||||||||||
利息支出，净额 |
(40,000 | ) | (17,000 | ) | (56,000 | ) | (17,000 | ) | ||||||||
利息支出，关联方 |
- | (19,000 | ) | - | (75,000 | ) | ||||||||||
处置固定资产收益 |
10,000 | - | 23,000 | - | ||||||||||||
其他收入(费用)合计 |
(47,000 | ) | 17,000 | (275,000 | ) | 174,000 | ||||||||||
持续经营净亏损 |
(663,000 | ) | (204,000 | ) | (1,645,000 | ) | (706,000 | ) | ||||||||
出售非持续经营业务的净收益 |
- | - | - | 3,915,000 | ||||||||||||
非持续经营的净亏损 |
- | (7,000 | ) | - | (158,000 | ) | ||||||||||
净收益(亏损) |
$ | (663,000 | ) | $ | (211,000 | ) | $ | (1,645,000 | ) | $ | 3,051,000 | |||||
持续经营的每股基本亏损 |
$ | (0.00 | ) | $ | (0.00 | ) | $ | (0.02 | ) | $ | (0.01 | ) | ||||
非持续经营的每股基本收益(亏损) |
$ | - | $ | (0.00 | ) | $ | - | $ | 0.04 | |||||||
每股基本收益(亏损) |
$ | (0.00 | ) | $ | (0.00 | ) | $ | (0.02 | ) | $ | 0.03 | |||||
非持续经营的每股摊薄收益(亏损) |
$ | - | $ | (0.00 | ) | $ | - | $ | 0.03 | |||||||
加权平均已发行普通股，基本股 |
97,848,735 | 97,834,996 | 97,982,618 | 97,310,548 | ||||||||||||
加权平均已发行普通股，稀释后 |
97,848,735 | 97,834,996 | 97,982,618 | 97,310,548 | ||||||||||||
US LIGHTING GROUP, INC. AND SUBSIDIARY
美国照明集团公司。和子公司
CONDENSED CONSOLIDATED BALANCE SHEETS
简明合并资产负债表
|
September 30, 2022 |
December 31, 2021 |
|||||||
ASSETS |
(Unaudited) | (Combined) | ||||||
Current Assets: |
||||||||
Cash |
$ | 68,000 | $ | 289,000 | ||||
Accounts Receivable |
32,000 | - | ||||||
Prepaid expenses and other current assets |
82,000 | 157,000 | ||||||
Inventory |
177,000 | 65,000 | ||||||
Deposits and other assets |
- | 9,000 | ||||||
Investment in trading securities |
- | 1,647,000 | ||||||
Total Current Assets |
359,000 | 2,167,000 | ||||||
Property and equipment, net |
1,982,000 | 1,848,000 | ||||||
Total Assets |
$ | 2,341,000 | $ | 4,015,000 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) |
||||||||
Current Liabilities: |
||||||||
Accounts payable |
$ | 341,000 | $ | 77,000 | ||||
Accrued expenses |
- | 33,000 | ||||||
Customer advance payments |
- | 10,000 | ||||||
Accrued payroll to a former officer |
125,000 | 686,000 | ||||||
Convertible notes payable |
- | 60,000 | ||||||
Loan payable- current portion |
101,000 | 82,000 | ||||||
Loans payable, related party |
1,202,000 | 1,458,000 | ||||||
Total Current Liabilities |
1,769,000 | 2,406,000 | ||||||
Loans payable, net of current portion, related party |
5,709,000 | - | ||||||
Loans payable, net of current portion |
280,000 | 344,000 | ||||||
Total Liabilities |
7,758,000 | 2,750,000 | ||||||
Commitments and Contingencies |
||||||||
Shareholders' Equity (Deficit): |
||||||||
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding |
- | - | ||||||
Common stock, $0.0001 par value, 100,000,000 shares authorized; 98,648,735 and 97,848,735 shares issued and outstanding, respectively |
10,000 | 10,000 | ||||||
Additional paid-in-capital |
19,519,000 | 17,796,000 | ||||||
Accumulated deficit |
(24,946,000 | ) | (16,541,000 | ) | ||||
Total Shareholders' (Deficit) Equity |
(5,417,000 | ) | 1,265,000 | |||||
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT |
$ | 2,341,000 | $ | 4,015,000 | ||||
|
9月30日， 2022 |
十二月三十一日， 2021 |
|||||||
资产 |
(未经审计) | (合并) | ||||||
流动资产： |
||||||||
现金 |
$ | 68,000 | $ | 289,000 | ||||
应收帐款 |
32,000 | - | ||||||
预付费用和其他流动资产 |
82,000 | 157,000 | ||||||
库存 |
177,000 | 65,000 | ||||||
存款和其他资产 |
- | 9,000 | ||||||
对证券交易的投资 |
- | 1,647,000 | ||||||
流动资产总额 |
359,000 | 2,167,000 | ||||||
财产和设备，净额 |
1,982,000 | 1,848,000 | ||||||
总资产 |
$ | 2,341,000 | $ | 4,015,000 | ||||
负债和股东权益(赤字) |
||||||||
流动负债： |
||||||||
应付帐款 |
$ | 341,000 | $ | 77,000 | ||||
应计费用 |
- | 33,000 | ||||||
客户预付款 |
- | 10,000 | ||||||
发给一名前军官的应计工资 |
125,000 | 686,000 | ||||||
可转换应付票据 |
- | 60,000 | ||||||
应付贷款--本期部分 |
101,000 | 82,000 | ||||||
应付贷款，关联方 |
1,202,000 | 1,458,000 | ||||||
流动负债总额 |
1,769,000 | 2,406,000 | ||||||
应付贷款，扣除当期部分，关联方 |
5,709,000 | - | ||||||
应付贷款，扣除当期部分 |
280,000 | 344,000 | ||||||
总负债 |
7,758,000 | 2,750,000 | ||||||
承付款和或有事项 |
||||||||
股东权益(赤字)： |
||||||||
优先股，面值0.0001美元，授权股份10,000,000股；无已发行和已发行股票 |
- | - | ||||||
普通股，面值0.0001美元，授权发行1亿股；已发行和已发行股票分别为98,648,735股和97,848,735股 |
10,000 | 10,000 | ||||||
追加实收资本 |
19,519,000 | 17,796,000 | ||||||
累计赤字 |
(24,946,000 | ) | (16,541,000 | ) | ||||
股东(亏损)权益总额 |
(5,417,000 | ) | 1,265,000 | |||||
总负债和股东赤字 |
$ | 2,341,000 | $ | 4,015,000 | ||||
SOURCE: US Lighting Group, Inc.
资料来源：美国照明集团公司