LOS ANGELES, CA--(Marketwired - Nov 1, 2013) - SK3 Group, Inc. (OTC Pink: SKTO) (the "Company") today announced that it has completed its preliminary consolidated financial statements for the quarter ended September 30, 2013. The financial reports are now being reviewed by its outside financial and legal advisors for inclusion in the quarterly report to OTC Markets, due by November 15, 2013.
On a consolidated basis the Company with its subsidiaries, will be reporting approximate revenue and deferred revenue in excess of $13,000,000 for the quarter ending September 30, 2013 compared to $12.996 million for the quarter ending June 30, 2013. Receivables collected during the latest quarter will exceed $300,000 compared to $42,229 for the previous quarter and the consolidated cash balances are $125,000 compared to $-0- for the June quarter. Net Income and earnings per share are subject to further review to comply with generally accepted accounting principals and were not available at the time of the release.
"The Company is working hard to become more transparent and efficient in reporting financial results and activities," states Artemus Mayor, President of the Company. "Our results for the quarter are within our expectations and we are pleased with the positive cash flow that the Company has now begun to enjoy," Mr. Mayor continued, "All of our subsidiaries, BBORL, Inc, Sovereign International, Inc., Medical Greens, Inc and SK3 Services, Inc., contributed during the quarter."
The Company will file the financial statements and footnotes along with its quarterly report as soon as it receives final clearance from all required parties, and expects to do so well in advance of normal filing date.
Finally, the Company will conduct a closed conference call similar to the one held in September with its officers and directors. The Company expects to post that conference call on its web-site, www.medicalgreens.com, on November 5, 2013.
SK3 Group, Inc. is a healthcare logistics and fulfillment consultancy focused on the delivery of alternative care and medicine. With seasoned management, breakthrough technology and best practices, SK3 Group, Inc. brings standardization and transparency to this rapidly growing segment of the alternative care field.