Working Capital Efficiency
The data from Quater 3 in 2019 to Quater 2 in 2020 includes 3 quarters.

Liabilities on Revenue
Year 2019 Quarter 3: Liabilities on Revenue 45.3 (%).Trend:Decrease 36.08% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 236.03 (%).Trend:Increase 421.04% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 113.32 (%).Trend:Decrease 51.99% than previous quarter

Overall: increasing (150.15%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 3: Current assets on Revenue 134.06 (%).Trend:Decrease 35.9% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 451.45 (%).Trend:Increase 236.75% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 201.54 (%).Trend:Decrease 55.36% than previous quarter

Overall: increasing (50.34%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 3 in 2019 to Quater 2 in 2020 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2019 Quarter 3: Ratio of Retained Earnings to Revenue 3.78 (%).Trend:Decrease 74.32% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue -115.78 (%).Trend:Decrease 3162.96% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue -61.93 (%).Trend:Decrease 46.51% than previous quarter

Overall: decreasing (-1738.36%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio

Invest Efficiency
The data from Quater 3 in 2019 to Quater 2 in 2020 includes 3 quarters.

Retained Earning on Assets
Year 2019 Quarter 3: Retained Earning on Assets 1.11 (%).Trend:Decrease 61.19% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets -10.33 (%).Trend:Decrease 1030.63% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets -13.69 (%).Trend:Increase 32.53% than previous quarter

Overall: decreasing (-1333.33%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2019 Quarter 3: Earning Per Share -1.54 (USD).Trend:Increase 40.0% than previous quarter
Year 2020 Quarter 1: Earning Per Share -0.83 (USD).Trend:Decrease 46.1% than previous quarter
Year 2020 Quarter 2: Earning Per Share -1.72 (USD).Trend:Increase 107.23% than previous quarter

Overall: decreasing (11.69%). Fluctuation: **Significant** (high variation).



Financial analysis from Q3 2019 to Q2 2020 shows significant fluctuations.  Working capital efficiency shows increasing current assets and liabilities on revenue, but both experience considerable variation.  Cost efficiency, measured by the ratio of retained earnings to revenue, has significantly decreased.  Investment efficiency, as measured by retained earnings on assets, has also decreased drastically. Earnings per share are negative and declining, though with fluctuations.  The data indicates substantial instability in financial performance over these quarters.