Bill the Butcher, Inc. Reports Results for Its Fiscal First Quarter Ended November 30, 2011

January 24, 2012

Bill the Butcher, Inc. (OTCQB: BILB.OB) reported revenue for its fiscal first quarter ended November 30, 2011 fell 34.6% to $388 thousand compared to $593 thousand during the first quarter of the prior fiscal year.  The company blamed the drop in revenue on its stores being under stocked due to the lack of operating capital as a result of new store expansion.

For the first quarter of fiscal 2012, the company reported a net loss of $793 thousand or $(0.03) per share versus a net loss of $676 thousand or $(0.03) per share during the first quarter of fiscal 2011.  The increased net loss was a result of lower revenues and a lower gross profit as a percentage of sales.

The company’s 10-Q contains a ‘Going Concern’ statement due to the lack of liquidity and the need for additional capital to further develop the business.  At the end of the first quarter, the company had a working capital deficit of $2.2 million and an accumulated deficit of $5.1 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.

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