PCS Edventures!.COM reports Q3 revenue $1.85M vs. $0.57M last year

Net income for the third quarter was $0.57 million compared to a loss of $0.15 million for the third quarter of fiscal year 2022. The Company ended the quarter with $0.69 million in cash. Michael Bledsoe, President, commented, "Our exceptional results for the third quarter of our FY 2023 were driven by the order for our Discover Drones program from the Air Force JROTC program, which we received on September 30, 2022. During our third fiscal quarter, we partially fulfilled their order of 344 units by delivering 150 units of our Discover Drones program. During the quarter, we invoiced for these 150 delivered units, received payment, and retired the short-term debt we incurred to procure the materials for this order. In January of 2023, we completed the first JROTC order of 344 units and will invoice for the 194 units we shipped subsequent to the first invoice once delivery to all sites is verified. We expect to receive payment for this second invoice prior to our fiscal year-end, at which time we plan to retire all corporate debt."