In last trading session, the stock price of Global Equity International Inc (OTCBB:GEQU) gained more than 12% to close the day at $0.0165. The gains came at a share volume of 7.65 million compared to average share volume of 1.64 million.
Global Equity International and its subsidiary unit Global Equity Partners Plc., a specialist consultancy entity with offices located in London and Dubai reported that they have filed Form 10-Q for 1Q2016. The company announced gross revenues of $843,528 for the quarter ended March 31, 2016 compared to $15,000 of gross revenues for the same period, a year earlier. This represents a jump of 5524% over 1Q2015.
The operating expenses declined 32% in 1Q2016 from the same period in 2015. Global Equity reported that the operational profit for the quarter closed March 31, 2016 jumped substantially to $524,468 compared to the operational loss of $(457,592) in the same period in 2015. It highlights a 215% increase in operational profits.
Global Equity’s “Non-Operating Expenditure/Income for the quarter closed March 31, 2016 came at $36,724 compared to $338,228 reported in the first quarter of 2015. This jump in “Non-Operating Income/Expenditure” can be attributed to the fact that the company for now has no convertible toxic debt, and therefore no material extraordinary costs to hinder bottom line.
The net profit for 1Q2016 was $487,744 compared to a loss of $(795,820) in 1Q2015, which represent a jump of $1.28 million in net profit. It is a remarkable achievement in company’s opinion. The filed Form 10-Q highlights positive Stockholders’ Equity at over $1 million a total of almost $3.087 million between investments and fixed assets, and current assets of $179,286 including prepaid, cash in bank, accounts receivable and other current assets. These numbers in latest report demonstrates robust growth on a QOQ basis.