COVINA, CA / ACCESSWIRE / February 4, 2020 / North America Frac Sand Inc. (OTC PINK:NAFS) ("NAFS" or the "Company"), also known as Voycare, is announcing its financial results for the 2019 fiscal year-end through its subsidiary company, HTT & CTT, Inc.
"As we've been communicating to our shareholders over the previous weeks, our team has been working diligently to compile and announce the latest financials in an effort to bring the Company's financials current and prepare ourselves for future audits that would put us on a path to becoming a fully reporting company once again," said Voycare CEO, Hong Chen.
Fiscal 2019 Unaudited Financials
Net sales in fiscal year 2019 were $4.5 million, an increase of $200,000 or 4.6%, compared to fiscal year 2018 net sales of $4.3 million. The increase in net sales reflected increased demand for travel to the U.S. from China.
Gross profit for fiscal year 2019 was slightly over $1 million compared to $793,000 in fiscal year 2018, an increase of $207,000, or 26%. Despite an on-going trade war between China and the U.S. that has affected may trade sectors including outbound tourism to the U.S., the Company still managed to increase its gross profits.
Operating expenses, including but not limited to payroll, payroll taxes, accounting and legal for fiscal year 2019 were $775,000 compared to $558,000 in fiscal year 2018. As a percentage of net sales, operating expenses increased to 17.2% in fiscal year 2019 compared to 12.9% in fiscal year 2018.
Net income was $250,000 in fiscal year 2019, a 15% increase from the previous fiscal year 2018. The increase in net income is a result of increase in gross profit.
For more information about Voycare, please visit, www.voycare.com or follow us on Twitter @nafsvoycare.
(www.voycare.com) NAFS/Voycare (NAFS) is a California based medical tourism service provider helping overseas patients gain access to quality health care primarily in the fields of oncology, in vitro fertilization, cosmetic surgery and wellness. Voycare's executive team has over 20 years of cross border tourism experience, specifically servicing Chinese outbound travelers to North and South America.
This news release contains certain forward-looking information. All information, other than information regarding historic fact that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future is forward-looking information. The forward-looking information contained in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. The forward-looking information contained in this news release is subject to a number of risks and uncertainties that may cause actual results or events to differ materially from current expectations. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable law, the Company disclaims any obligation to update or modify such forward-looking information, either because of new information, future events or for any other reason. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
SOURCE: North America Frac Sand Inc./Voycare