Earlier this year, Metrospaces Inc (OTCMKTS:MSPC) released amendment in form 10-Q for the quarter ended June 30, 2015. The revenue came at $67,461 for the quarter ended June 30, 2015 compared to $0 in the comparable period, a year earlier. This growth in revenue can largely be attributed to revenue recognition from grape sales upon delivery to clients from the subsidiary firms acquired in 2015.
Metrospaces reported that G&A expenses for the quarter ended June 30, 2015 came at $172,654 against G&A expenses of $28,704 in the comparable period. These increased expenses can be attributed to increase in professional fees because of the acquisition of subsidiary firms, stock-based compensation and the higher costs of new subsidiaries.
Operating loss came at $200,790 in the reported period compared to $28,704 for the quarter ended June 30, 2014. This increase in operating loss was due to the increased costs related to the acquisition new subsidiaries.
Metrospaces reported that the company incurred interest expense of almost $8.29 million during the quarter ended June 2015. Out of reported interest expenses, $7.913 million was a result of the excess of derivative liability when compared to the face value of convertible notes released with a bifurcated conversion aspect. Also, $375,545 figure was recorded as amortization of the discounted arrears. During the quarter ended June 30, 2014, the incurred interest amounted to $51,906.
Metrospaces recognized almost $4.647 million as gain on change in derivative fair value during the quarter closed June 30, 2015, against a loss on change in derivative fair value of $32,069 during the quarter ended June 30, 2014. The gain on debt extinguishment amounted to $1.803 million in the reported quarter. However, in the same period, a year ago, the company posted no such loss or gain.
OXIS International, Inc. (OTCMKTS:OXIS) Prospects Bolstered By Trispecific Killer Engager Technology Deal
Confirmation that Oxis International has entered into an agreement with the University of Minnesota for the development and commercialization of therapies continues to offer support for the stock in the market. The stock has registered an impressive run ever since the news broke, out given the potential impact of the deal going forward,
The agreement is for Trispecific Killer Engager technology, which according to initial trials has proved to be effective, when compared to other CART therapies, in targeting cancer cells. The cost advantage that comes with the technology, as well as reduced side effects all but continues to affirm why the technology could be the next breakthrough in the treatment of cancer.
The University of Minnesota has also found a way of using the TriKE platform to expand the immune cell population in patients without creating a toxic environment. A robust pipeline of drugs led by OXIS-1550 for the treatment of leukemia as well as OXS-4235 for the treatment of multiple myeloma also continues to bolster OXIS International, Inc.(OTCMKTS:OXIS) sentiments on the street.