LifeQuest World Corp.
0.0184+0.00 (+12.1%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCPK · LQWC · USD
Key Stats
Market Cap
2.28MP/E (TTM)
-Basic EPS (TTM)
-0.08Dividend Yield
0%Recent Filings
10-K
FY2009 results
LifeQuest World Corporation's FY2009 revenue fell 21% year-over-year to $769,616, driven by weaker demand for core products like JC Tonic, which accounts for 85% of sales, while ImmunXT contributed $195,613 but faced termination of its license in August 2009 due to unmet purchase commitments. Gross margins slipped to 75% from 78%, reflecting discounts amid declining sales, yet the net loss narrowed 16% to $1.2 million, or $0.03 per share, thanks to 24% cuts in selling and administrative expenses to $1.2 million. Q4 showed no acceleration, with ongoing distributor challenges limiting momentum. Cash depleted to zero, offset by $247,627 in financing, including stock issuances, while a $1.6 million royalty obligation to related party Jurak Holdings was partly refinanced into convertible debt. No annual guidance disclosed. Ongoing funding shortfalls threaten quarterly viability.
10-Q
Q3 FY2009 results
LifeQuest World posted Q3 FY2009 revenue of $264,549, up 8% y/y from $244,054, driven by $38,146 in emerging ImmunXT sales, though gross margin slipped to 74% from 90% on product mix shifts. Operating loss narrowed to $194,954 from $292,593, thanks to 32% lower selling and admin expenses at $265,205, while net loss improved to $198,513 from $409,566, with interest costs down sharply to $3,559 after paying off the Nordic license note. YTD revenue fell 23% y/y to $620,194, yielding a $771,975 net loss versus $1,029,800 last year, as Jurak line sales declined amid fewer distributors. Cash drained to zero, offset by $164,127 in stockholder advances; free cash flow not disclosed in the 10-Q. In December 2008, issued 4,166,667 common shares valued at $1,000,000 to Nordic Immotech as a deposit for potential acquisition, with repurchase options at $0.48–$0.60 per share. Ongoing Nordic talks could reshape the balance sheet. Declining distributor recruitment poses a persistent challenge.
10-Q
Q2 FY2009 results
LifeQuest World Corporation's Q2 FY2009 revenue fell 30% y/y to $193K from $275K, while gross margin held steady at 78% amid a shift to the new ImmunXT line, which contributed $58K in sales but couldn't offset declining Jurak product demand. Operating loss narrowed 11% y/y to $222K, thanks to 28% lower selling and admin expenses at $248K, though fixed $125K related-party royalties persisted; net loss improved to $227K, with the $4K interest hit a minor drag versus prior year's $20K. YTD through November 30, 2008, revenue dropped 36% y/y to $356K, gross profit margin edged up to 79%, and net loss shrank 8% to $573K on $589K expenses (21% y/y cut). Cash depleted to zero, offset by $164K stockholder advances amid $187K operating cash burn; inventories ticked down to $275K. Subsequent to quarter-end, the firm issued 4.2M common shares worth $1M to Nordic Immotech, extending the ImmunXT purchase commitment to March 31, 2009. Declining distributor additions pose a persistent challenge.
8-K
Designates Series B Preferred Stock
Lifequest World Corporation filed a Certificate of Designation on October 15, 2008, creating 10,000,000 shares of Series B Preferred Stock from its authorized preferred pool, leaving 40,000,000 shares undesignated. This move sets up flexible financing options amid market pressures. No terms or issuance details disclosed. Details matter here.
10-Q
Q1 FY2009 results
LifeQuest World posted Q1 FY2009 revenue of $162,157, down 43% y/y from $282,504, yet gross margin climbed to 80% from 73% on better product mix and cost controls. Operating loss narrowed slightly to $336,188 from $318,766, while net loss held steady at $347,000, with the gap to operating loss under 20% from lower interest expense on paid-off license debt. Diluted EPS stayed at $(0.01) on 40.5 million shares, consistent with y/y figures post-reverse split. Cash drained to zero from $16,336 q/q, with operating cash use at $158,311 offset by $163,000 in stockholder advances; free cash flow not disclosed in the 10-Q. The ImmunXT immune booster, launched February 2008 under a $2.4 million intangible license with minimum purchase commitments through 2011, notched $24,400 in initial sales. Cash is gone. Ongoing litigation over $60,000 in alleged embezzlement adds uncertainty.
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