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Business Summary: Thermic Science International Corporation is a conglomerate special purpose acquisition company (SPAC). The Company is designed to bring affordable and free education, traditional and entrepreneurial job creation and cannabinoid drug development internationally. It is developing natural hemp-based products. The Company is engaged in the development of hemp formulation-based health and wellness solutions, as well as cosmetic, nutraceutical and food brands throughout the world. The Company's health and wellness, nutritional, and cosmetics lines address personal needs. The Company’s Thermic brand of products includes Thermic Heating Paint and Portable Thermic Heating Units. Its Hempery brand of products includes hemp-based personal care items, such as body oil, soap, body wash and lip balm. Its HempTasty brand of hemp-based foods includes spices and sauces. The Company owns Cannabis Science Inc., Thermic Coating Systems Ltd. and other.
Financial Summary: BRIEF: For the three months ended 31 March 2013, Thermic Science International Corp revenues was not reported. Net loss increased from $1.3M to $3.4M. Higher net loss reflects Interest expense, including amortization increase of 99% to $2.6M (expense), General and administrative expenses increase from $2K to $6K (expense). Basic Earnings per Share excluding Extraordinary Items remained flat at -$0.05.