Quad M Solutions, Inc. Reports Earnings Results for the Second Quarter Ended March 31, 2020
May 20, 2020 at 04:43 pm EDT
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Quad M Solutions, Inc. announced earnings results for the second quarter ended March 31, 2020. For the second quarter, the company announced sales was USD 5.091 million. Operating loss was USD 437,784 compared to USD 399,012 a year ago. Net loss was USD 2.326 million compared to USD 419,909 a year ago. Basic loss per share from continuing operations was USD 2.96 compared to USD 0.64 a year ago. For the half year, sales was USD 5.312 million. Operating loss was USD 682,851 compared to USD 659,557 a year ago. Net loss was USD 3.032 million compared to USD 720,708 a year ago. Basic loss per share from continuing operations was USD 4.11 compared to USD 1.11 a year ago.
Quad M Solutions, Inc. is a holding company. The Company operates its business through its two operating subsidiaries, including NuAxess 2, Inc. (NuAxess) and OpenAxess, Inc. (OpenAxess). NuAxess is engaged in providing a spectrum of consulting and staffing business services related to employee benefits, insurance, and financial services. It offers its programs through platforms that include technology and sponsoring affordable medical health insurance plans and other employee benefit products and services. OpenAxess is a staffing business that developed its competitive partially self-insured medical plans to offer employees for their comprehensive medical insurance benefits replacing fully insured medical plans. The NuAxess Smart Healthcare Plan, which is its self-insured health plan includes wellness and prevention programs and employee health saving accounts, among other features. Its primary markets are small and mid-size group employees, sometimes referred to as the gig economy.
QUAD M SOLUTIONS, INC. 