Net loss for the first six months of fiscal 2017 improved to 612 000 US dollars compared to a net loss of 737 000 US dollars for the first six months of fiscal 2016. Net loss for the second quarter of fiscal 2017 improved to 519 000 US dollars compared to a net loss of 539 000 US dollars for the second quarter of fiscal 2016. The EBITDA loss of 333 000 US dollars for the second quarter of 2017 was flat compared to 330 000 US dollars for the second quarter of 2016.

Net sales for the first six months of fiscal 2017 decreased by 13.4% totaling 8.4 million US dollars from 9.7 million US dollars when compared to the first six months of fiscal 2016. Of this decline, 713 000 US dollars, or 55% was associated with the loss of two customers that ceased doing business in late 2016.

More recently, the company has made progress expanding its business with several national retail accounts to which it will be shipping this fall, including: Dillard’s, Lord & Taylor and Designer Shoe Warehouse (DSW).

During the third quarter, the company has also begun selling Bueno footwear which it expects will contribute materially to its revenue for 2018.