Cost of goods sold for Q2 FY 2016 was $461,279, an increase of 13.2 percent. Loss from operations in Q2 FY 2016 was $801,469.
“During this quarter, the company made progress with customers, products and manufacturing. We are growing and selling colorless and fancy color pink diamonds, and have attracted new investments to fund manufacturing and operations improvements,” he continued.
In September, Scio Diamond closed on $1.565 million in equity financing in a non-brokered, private placement to a group of accredited investors based in Greenville, SC. The investment was to fund continuing product development and working capital.
Scio Diamond began delivering fancy color pink and coloress gems to the market during the summer.
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