Quad M Solutions, Inc. Reports Earnings Results for the Third Quarter Ended June 30, 2020
August 19, 2020 at 05:31 pm EDT
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Quad M Solutions, Inc. announced earnings results for the third quarter ended June 30, 2020. For the third quarter, the company announced sales was USD 4.731 million. Operating loss was USD 285,263 compared to USD 399,012 a year ago. Net loss was USD 500,146 compared to USD 419,909 a year ago. Basic loss per share from continuing operations was USD 0.64 compared to USD 0.64 a year ago. For the nine months, sales was USD 10.044 million. Operating loss was USD 968,114 compared to USD 659,557 a year ago. Net loss was USD 3.532 million compared to USD 720,708 a year ago. Basic loss per share from continuing operations was USD 4.79 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. 
