Bill the Butcher, Inc. Reports Annual Results for Year Ended August 31, 2011

December 18, 2011

Bill The Butcher, Inc. (OTCQB: BILB.OB) reported sales for its fiscal year ended August 31, 2011 increased 61.2% to $2.2 million compared to $1.4 million in the prior fiscal year.  The increase in sales was the result of an increased number of stores open during the current reporting period when compared to the prior fiscal year.

The company reported a net loss during the year of $2.9 million or $(0.12) per share compared to a net loss of $1.32 million or $(0.06) per share in the prior fiscal year.  The increased loss was the result of higher expenses across the board including a 106% increase in direct store expenses, a 51% increase in general and administrative expenses and a 438% increase in investor and public relations expenses.

The balance sheet will require continued financing support as it currently shows a working capital deficit of $1.7 million and an accumulated deficit of $4.3 million.  The company had current assets of $182 thousand, total assets of $606 thousand, current liabilities of $1.85 million and total liabilities of $1.9 million.

Bill the Butcher, Inc is a Seattle, Washington based purveyor of open-pastured USDA organic and USDA/WSDA natural grass-fed beef, pork, chicken and lamb that has been raised without steroids, antibiotics or hormones and has not been fed genetically-modified corn.  The company currently has six stores in and around the Seattle, Washington area.

Source: Bill the Butcher, Inc.

Print Friendly

Previous post:

Next post: