Innovative Product Opportunities Inc (OTCMKTS:IPRU) submitted Form 10-K wherein it reported that the revenue for the fiscal closed December 2015 was $35,900 compared to revenue of $79,104 in the comparable period.
For the fiscal closed December 2015, Innovative Product revenue of $35,900 from design consultation as the deal was completed against revenue of $73,250 from a deal for a design consultation and revenue of $5,854 from installation of an interactive bar-top experience in the previous year. The company didn’t incur cost of sales for fiscal ended December 2015.
Innovative Product reported that G&A expenses for the fiscal ended December 2015 came at $243,208 against $211,735 for the fiscal ended December 2014. This change in expenses can be largely attributed to company’s need to compensate for professional fees, transfer agent fees and investment relations. The bad debt expenses came at $18,025 compared to $0 in the comparable period.
In the most recent update, Innovative Product announced that they have delivered an “Interactive Donor Recognition Wall” to the Toronto Humane Society. The Digital Recognition Walls have been acknowledged as a major constituent in Donor Relations. Nadav Elituv, the CEO of Innovative Product, said that since 1887 Toronto Humane group has saved numerous animals each year. The group promotes animal protection along with humane care. With the launch of the shared multi-media content that covers videos and images, the motive behind humane-giving philanthropy gets highlighted.
Innovative Product have worked in closed association with Lusens to offer the best design, technology, and software for a treasured experience that inspires future donors and honors the past donors. The company is looking forward to further extend opportunities with Lusens, which is a multi-disciplinary design and media firm. It is among the worldwide leaders in bringing interactive and immersive multimedia experiences to the public.