GlobalWise Investments, Inc. (GWIV) Posts Q1 Results; Cuts Q1 Loss by 42%, Completes First Major Financing
GlobalWise Investments, a technology company focused on the design, implementation, and management of cloud-based Enterprise Content Management (ECM) systems via wholly owned subsidiary Intellinetics, Inc., reported its financial results for the first quarter ended March 31, 2013. Total revenues for the quarter were $354,871, a decrease of 2 percent compared to $360,328 for the comparable quarter of 2012. The company attributes the year-over-year decrease primarily to the delay in closing several major agreements generated by its expanded sales channel partners, as well as lower revenue from consulting projects. Gross profits were $175,387 for Q1 2013, an increase of 211 percent…