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Kiaro Reports 230% Increase in Revenue in Fiscal Year 2021
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Record revenues of $17.1 million for fiscal year 2021, an increase of 230%, compared to $5.2 million the year prior
Same store sales increase of 58% year over year
Gross margin of 38.1% for the retail operations during fiscal year 2021 compared to 35% the prior year
General and administrative expense for fiscal year 2021 substantially decreased to 12% of revenue compared to 61% in the prior year
Total HQ salaries decreased to 10% of revenue compared to 46% in the prior year
Convertible debt and accrued interest of $6.5M converted to equity and settlement of $1.75M in promissory notes in fiscal year 2021, leaving only $895K in total principal debt remaining ....

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