Rest EZ Inc. Reports $5,000 in Sales and $19,386 Net Loss for Fiscal Year Ending March 31, 2024

Rest EZ Inc. has reported its financial performance for the fiscal year ending March 31, 2024, revealing total sales of $5,000, a significant increase from $0 in the previous fiscal year. The company incurred a cost of goods sold amounting to $2,550, resulting in a gross profit of $2,450. However, Rest EZ recorded a net loss of $19,386, a notable improvement compared to the net loss of $428,706 reported for the year ending March 31, 2023. The reduction in losses is attributed to lower operating expenses, which decreased from $418,408 in the prior year to $21,836 in the current year.

The company has made strategic moves to enhance its market presence, including the establishment of a direct sales approach led by CEO Brandon Sosa, who is also the sole director and officer. Rest EZ has focused on marketing its Rest EZ Sleep Aid Supplement, a liquid gel capsule, through wholesalers, retailers, and online platforms. The company aims to expand its customer base by leveraging word-of-mouth advertising and increasing its wholesale and retail partnerships over the next twelve months.

Operationally, Rest EZ has reported selling a total of 77,694 bottles of its product, generating cumulative sales of $664,943 since its inception. However, the company remains heavily reliant on a single major customer for its sales, which poses a risk to its financial stability. As of March 31, 2024, Rest EZ had a working capital deficit of $36,805 and an accumulated deficit of $321,579, raising concerns about its ability to continue as a going concern without additional capital.

The company has no current plans for research and development or the introduction of new products, focusing solely on its existing sleep aid supplement. Rest EZ's manufacturing is outsourced to Sport Energy, which adheres to strict guidelines for dietary supplements. The company has not yet established a significant customer base and faces intense competition from larger firms with more resources and established market presence.

Looking ahead, Rest EZ Inc. plans to increase its marketing efforts and expand its distribution channels to improve brand awareness and customer acquisition. The company acknowledges the challenges it faces, including the need for additional capital and the potential impact of competition on its market share. Management remains optimistic about the future but recognizes the inherent risks associated with introducing a new product in a competitive industry.