Not quite.........
When they spoke of profit they did not clarify profit as to operating profit or net profit.
If you look at their last quarterly communication you referenced, they spoke of a loss of $515,000 for the quarter, but if you add the interest expense and dividend expense the total is $699,000 or an added $184,000 which they do not mention.
For the quarter the operating loss was $1,317,000, but adding in the interest/dividend the loss totals $1,815,000, a significant difference.
We only reach a profit when all of these costs are offset and the company communication rarely address these total costs.
I`m not sure which Will was discussing?