The store will be operated by Dennis and Belinda Dooley. We have a new location in Houston, Texas which will be located at 3343 Louetta Rd Spring Texas. They anticipate opening in mid-September, and Ester Castleman is very excited to open. Miami is back on track after a delay in its new location. Chris Conner President of FMS Franchise says, “We are still very excited about Endo Dispensary and Wellness and are anticipating great results by the end of the year.” If anyone would like to learn more about being a store owner, contact on other store openings. Our Franchising deal with FMS franchise is still moving forward. We believe we have turned the corner and with the three new stores coming on board we look to be profitable again. The great news we filed our first quarter 10Q ending June 30, 2022, showing our first profit of over $190,000. Our net loss for the year ended March 31, 2022, was $257,016. In addition, we incurred an interest expense of $25,636, amortization of debt discount of $966, a gain on the change in fair value of derivative liabilities of $100,209, and a loss on the settlement of liabilities of $274,938. We incurred total operating expenses of $495,697, consisting of general and administrative expenses of $349,980, legal, and professional fees of $111,599, advertising and promotion costs of $28,518, and depreciation and amortization of $5,600. Our cost of goods sold was $557,088, resulting in a gross margin of $440,012. When our 10K was filed, and it showed great progress during the year ended March 31, 2022, we generated revenue of $997,100. (OTC PINK: RTON), a fully reporting SEC filer and developer of hemp-based products, is pleased to announce the following updates. 24, 2022 (GLOBE NEWSWIRE) - Right on Brands, Inc.
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