Simtrol filed their quarterly report revealing a large increase of total assets. The company’s total assets increased approximately 893% from $285,908 to $2,840,426. The main cause of the increase is primarily due to the proceeds from issued Series B convertible preferred stock in a private placement.
Selling, general, and administrative expenses were increased 107% from $326,595 to $678,561. Professional fees and the hiring of additional personal were the main reasons for the increase.
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