OREANDA-NEWS.Tinkerine Studios Ltd. (“Tinkerine” or the “Company”) (TSX-V:TTD) (FSE:WKN WB6B) and (OTC:TKSTF) is pleased to announce the financial results for the fiscal period ending March 31, 2016. The Corporation's interim financial statements and management's discussion and analysis ("MD&A") for the three months ended March 31, 2016 are available on SEDAR at www.sedar.com and on the Company website at: www.tinkerine.com.

Highlights Q1 2016

  • Revenue of $171,689 for Q1 2016, a 58% increase from the comparable period ending March 31, 2015.
  • Gross Margin of $64,572, a 177% increase from the comparable Q1 2015 period.
  • A 32% reduction in expenses in Q1 2016 versus the previous years’ comparable period.
  • Net Loss of $311,223 for the period ending March 31, 2016 versus a net loss of $475,027 in the comparable Q1 2015 period.
  • Appointed Mr. Justin Sy as interim Chief Financial Officer.
  • Closing of private placement financing in the amount of $315,000, subscribed for by insiders and founders of the Company.
  • Increased inventory of raw materials and finished products to $608,351 in anticipation of cyclical sales to educational institutions in Q2 and Q3.

Financial Highlights

      Q1 2016
   Q1 2015
  
Revenue     $ 171,689   $ 108,542  
Cost of Goods Sold     $ 107,117   $ 85,191  
Gross Profit     $ 65,572   $ 23,351  
Expenses     $ 375,796   $ 551,975  
Net Income (Loss)     $ (311,223 ) $ (475,027 )

Tinkerine Studios designs and manufactures user-friendly award winning 3D printers and software, with a focus on STEAM based educational content and online training tools. Tinkerine also manufactures its own line of high purity filament for 3D printers.