SOURCE: Pacific Sands, Inc.

Pacific Sands, Inc.

April 11, 2016 09:30 ET

Pacific Sands, Inc. Fiscal 3rd Quarter Earnings Preview

KENOSHA, WI--(Marketwired - Apr 11, 2016) - Pacific Sands, Inc. (OTCQB: PFSD) (www.oxyboost.com) - Pacific Sands, Inc. would like to report that for the 3 months ending March 31, 2016, based on preliminary results not yet reviewed by our outside CPA firm, the company experienced a very modest operating loss. Sales were up significantly from the prior quarter, yet declined from the prior year quarter.

Had the working capital received late in the quarter been available earlier, to allow the shipment of over $100,000 of open orders at quarter end, the company would have had an operating profit for the quarter. Much of that order backlog has been shipped, with the balance to be completed before the end of April.

The sales decline is also part of a policy to not deploy working capital to support low margin private label business. As a result of this, gross profit margins have expanded by more than 10 percentage points over last year's comparable quarter.

Well in excess of $100,000 of noncash gains were realized in the quarter from our enterprise wide reorganization. Still larger noncash expenses for interest and the costs related to the complex accounting for the issuance and exercise of convertible debt resulted in a net loss for the quarter.

While we have no prior notice of, or control over, the exercise of convertible debt we believe that the final conversion will be completed in the coming few weeks.

Our authorized common share limit is still 400 million and we have no plans to increase that or engage in any equity based financing. The final debt conversion will not exceed that limit.

Final quarterly results will be released on our 10Q sometime in the month of May.

Safe Harbor Act Disclaimer
The statements contained in this release and statements that the company may make orally in connection with this release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected in the forward-looking statements, since these forward-looking statements involve risks and uncertainties that could significantly and adversely impact the company's business. Therefore, actual outcomes and results may differ materially from those made in forward-looking statements.

Contact Information