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Freeze Tag Q1 loss narrows YOY

Freeze Tag Inc. said its normalized net income for the first quarter came to a loss of 8 cents per share, compared with a loss of 16 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $218,020, compared with a loss of $310,380 in the prior-year period.

Total revenue increased on an annual basis to $21,780 from $7,900, and total operating expenses decreased 24.1% year over year to $210,920 from $278,000.

Reported net income came to a loss of $350,560, or a loss of 12 cents per share, compared to a loss of $497,000, or a loss of 26 cents per share, in the year-earlier period.