JERSEY CITY, N.J., Feb. 21, 2018 /PRNewswire/ -- MOJO Organics, Inc. (OTC: MOJO) today filed its Form 10 K for the year ended December 31, 2017 with the Securities and Exchange Commission.
Glenn Simpson, Chairman and Chief Executive Officer of MOJO Organics, Inc. said "We are pleased to report that we ended our 2017 fourth quarter within our expectations. We continued to focus on increasing our points of sale and volume at each of those points of sale. As demonstrated by our significant revenue growth we made great progress in increasing same store sales and the number of retail points of sale in the eastern United States, during the quarter."
Sales revenue for the three months ended December 31, 2017 was $289,124 an $132,339 increase (84%) over the same period last year of $156,786.
Gross profit was $124,872, an increase of $26,731 from the same period last year. The net loss for the period decreased by $252,668 to $187,463 a 57% improvement from the fourth quarter of 2016.
During the fourth quarter of 2017 MOJO significantly increased its ecommerce business on AMAZON. Revenue was up by 149% to $39,871 an increase of $23,828 compared to the same quarter last year of $16,042. MOJO Pure Coconut Water has been ranked in the top five brands of coconut water on Amazon. This puts MOJO Pure Coconut Water well ahead of most national brands many of which have been sold for over 15 years in the USA market, MOJO commenced sales two years ago.
"The progress demonstrated during this quarter is foundational in positioning the company for the future quarters."
SOURCE MOJO Organics, Inc.