e Digital Corporation (EDIG) saw its loss widen to $0.37 million in the quarter ended compared with $0.35 million a year ago.
The company has not recorded any revenues for the current quarter. However, it has reported a revenue of $0.16 million for the previous year period.
Operating loss for the quarter was $0.37 million, compared with an operating loss of $0.35 million in the previous year period.
"As consumers continue to embrace sensor based smart home products, we are very excited about revenue opportunities from our new product development," commented Fred Falk, president and CEO of eDigital. "Reception to our product designs from potential customers and partners has been very positive. Our new Board members are helping to refine our strategic direction with regard to not only our smart home product but also our microSignet and Synap technologies. Our legal team will continue to enforce our patents against companies we believe infringe our Nunchi intellectual property," concluded Falk.
Working capital drops significantly
e Digital Corporation has witnessed a decline in the working capital over the last year. It stood at $0.12 million as at Sep. 30, 2016, down 90.23 percent or $1.15 million from $1.28 million on Sep. 30, 2015. Current ratio was at 1.31 as on Sep. 30, 2016, down from 6.11 on Sep. 30, 2015.
At the same time, days payable outstanding went up to 196 days for the quarter from 72 for the same period last year.
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