ALISO VIEJO, Calif., May 17, 2021 (Newswire.com) - Eclipse Liquids, LLC, a provider of CBD manufacturing solutions and products, announced the filing of its first quarter 2021 financial results, with continued improvement across all financial metrics over the previous year-over-year quarter and the previous quarter.
Total revenue for the three months, ended March 31, 2021, was $421,999, an increase of 24% over the same quarter in the prior year and an increase of 17% over the previous quarter. Net Income increased to $56,449 versus a net loss of ($28,834) for the same quarter in the prior year and slightly up from the previous quarter of $41,713.
Total Assets remained at $1,488,839 due to the use of cash for the purchase of new machinery. Total Liabilities decreased from $1,762,151 down to $1,632,860, and Stockholder's Equity rose 5% from ($1,561,681) to ($1,488,836).
"We are excited to announce our first quarter financials showing upward trends resulting from our team's diligence and commitment," commented Eclipse Liquids CEO Steven Mazurek. "We were able to cut expenses and improve margins as new processes and procedures helped us to automate some of our previously manual operations."
In an effort to clarify some questions shareholders have raised, 100% of Eclipse Liquids has been merged into MSMY and all the assets and liabilities of Room 21 Media were signed over to John Stippick when he stepped down as CEO, as reported in the Press Release of 2/7/2020. Now that the pandemic is coming under control and the company has nearly completed the process of becoming current with its filings on OTCMarkets.com, they plan to move forward with the name and symbol change to better represent the core focus of the company.
About Eclipse Liquids
Founded in 2013, Eclipse Liquids is one of only 34 AEMSA certified and FDA registered clean room laboratories and production facilities for eLiquid private label manufacturing in the country. Through years of honing our manufacturing processes, developing and innovating new products and building a loyal and dedicated staff, Eclipse has grown to become a leader in the CBD Product manufacturing industry, specializing in private label premium CBD products serving the needs of small-scale businesses to large multi-national companies.
Safe Harbor Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. There are a number of important factors that could cause actual results to differ materially from those indicated within this press release. The Company disclaims any responsibility to update any forward-looking statements.
For further information contact:
MC Endeavors, CBD Liquid Labs
Phone: (949) 448-0074
Source: MC Endeavors / Eclipse Liquids, LLC (OTC PINK:MSMY)