Applied Minerals, Inc. engages in the production of halloysite clay and natural iron oxide solutions. It offers its products under the Dragonite, Dragonite-XR, Dragonite-HP, Dragonite-PureWhite, and Amiron brands. The company was founded on March 4, 1924 and is headquartered in Brooklyn, NY.
Revenue for the three months ended September 30, 2019 totaled $45,102, a decrease of $4,636,901 or 99%, compared to the same period in 2018. The decline was driven primarily by the absence of the sale of surface pile material for approximately $4.5 million for use as a construction material, which occurred in the same period during 2018. Excluding the sale of the surface pile material, revenue during the current period declined $90,756, or 67%, compared to the same period in 2018. The decline was driven primarily by an absence of $82,040 in sales of DRAGONITE to a manufacturer of industrial products that is developing a new product, which includes DRAGONITE and the absence of $7,540 of sales to a distributor of research and development materials, partially offset by $5,952 of sales to a manufacturer of chemical additives.