Company profile

Brian Bonar
Incorporated in
Fiscal year end
Former names
Imaging Technologies Corp, Personal Computer Products Inc
IRS number

DFCO stock data



1 Jul 20
9 Jul 20
30 Jun 21


Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 351.32K 32.17K 17.32K
Net income -1.04M 188.46K -620.73K -745.06K
Diluted EPS -0.02 0 -0.01 -0.01
Net profit margin -296% 586% -3585%
Operating income -836.6K -860.96K -410.14K
Net change in cash -6.88K 98.28K 11.73K -2.47K
Cash on hand 104.09K 110.97K 12.69K 963
Cost of revenue 185.9K 7.49K 6.61K
Annual (USD) Jun 19 Jun 18
Revenue 72.16K 0
Net income 365.85K -1.04M
Diluted EPS 0 -0.02
Net profit margin 507%
Net change in cash -4.52K
Cash on hand 963 5.49K
Cost of revenue 75K 0

Financial data from company earnings reports

Financial report summary

Management Discussion
  • During the fiscal years ended June 30, 2019, the Company recorded revenues of $72,155 as a result of manufactured components sold to a manufacturer of deep-ultraviolet light sources which included total cost of sales of $74,996 resulting in a gross loss of $2,841. This is due to the fact that we have higher overhead costs which resulted in the gross loss. We did not have any sales revenue during the year ended June 30, 2018.
  • Operating expenses for the year ended June 30, 2019 was $771,897 compared to operating expenses of $91,983 during the year ended June 30, 2018. The increase in operating expenses was due to an increase in the operating activity during the year, as most of fiscal 2018 was spent on development of the Company’s proposed business operations whereas fiscal 2019 focused on the implementation of the business operations. This resulted in an increase of selling, general and administrative expenses of $629,864 as the Company commenced with the hiring of staffing during the current fiscal year.
  • Net income for the year ended June 30, 2019 was $365,850 compared to a net loss of $1,037,221 during the year ended June 30, 2018. In addition to operating revenues and expenses during the year ended June 30, 2019, the Company incurred $270,577 of expenses on the proposed acquisition of C2C Life Sciences, Inc. which was rescinded before it was completed. The Company also incurred interest expense of $853,175 for interest on outstanding payroll tax liability, and the expenses were offset by expirations of retired federal payroll tax liabilities of $2,264,340. During the year ended June 30, 2018, the Company incurred interest expense of $945,238 relating to interest on the outstanding payroll tax liability.
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