AXIM (AXIM Biotechnologies) Inventory Turnover : 0.07 (As of Jun. 2024)

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What is AXIM Biotechnologies Inventory Turnover?

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. AXIM Biotechnologies's Cost of Goods Sold for the three months ended in Jun. 2024 was $0.00 Mil. AXIM Biotechnologies's Average Total Inventories for the quarter that ended in Jun. 2024 was $0.01 Mil. AXIM Biotechnologies's Inventory Turnover for the quarter that ended in Jun. 2024 was 0.07.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. AXIM Biotechnologies's Days Inventory for the three months ended in Jun. 2024 was 1,277.50.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. AXIM Biotechnologies's Inventory-to-Revenue for the quarter that ended in Jun. 2024 was 0.82.

AXIM Biotechnologies Inventory Turnover Historical Data

The historical data trend for AXIM Biotechnologies's Inventory Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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AXIM Biotechnologies Inventory Turnover Chart

AXIM Biotechnologies Annual Data

Trend

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Dec23

Inventory Turnover

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AXIM Biotechnologies Quarterly Data
	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24
Inventory Turnover	Get a 7-Day Free Trial															-	-	-	-	0.07

AXIM Biotechnologies Inventory Turnover Calculation

AXIM Biotechnologies's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Inventory Turnover (A: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2023 )	/ (	(Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )
=	0	/ (	(0	+	0)	/	1 )
=	0	/	0
=	N/A

AXIM Biotechnologies's Inventory Turnover for the quarter that ended in Jun. 2024 is calculated as

	Inventory Turnover (Q: Jun. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Jun. 2024 )	/ (	(Total Inventories (Q: Mar. 2024 )	+	Total Inventories (Q: Jun. 2024 ))	/	count )
=	0.001	/ (	(0	+	0.014)	/	1 )
=	0.001	/	0.014
=	0.07

AXIM Biotechnologies (OTCPK:AXIM) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

AXIM Biotechnologies's Days Inventory for the three months ended in Jun. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Jun. 2024 )	/	Cost of Goods Sold (Q: Jun. 2024 )	*	Days in Period
	=	0.014	/	0.001	*	365 / 4
	=	1,277.50

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

AXIM Biotechnologies's Inventory to Revenue for the quarter that ended in Jun. 2024 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Jun. 2024 )	/	Revenue (Q: Jun. 2024 )
	=	0.014	/	0.017
	=	0.82

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

AXIM Biotechnologies Inventory Turnover Related Terms

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AXIM Biotechnologies Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » AXIM Biotechnologies Inc (OTCPK:AXIM) » Definitions » Inventory Turnover

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Traded in Other Exchanges

N/A

Address

6191 Cornerstone Court, E, Suite 114, San Diego, CA, USA, 92121

Website

https://www.aximbiotech.com

AXIM Biotechnologies Inc is a vertically integrated research and development company focused on improving the landscape for the diagnosis of ophthalmological conditions such as Dry Eye Disease through rapid diagnostic tests. Additionally, The company owns IP and has conducted research on SARS-CoV-2 (COVID-19) rapid neutralizing antibody tests to detect levels of functional neutralizing antibodies that are believed to prevent SARS-CoV-2 from entering the host cells, as well as for oncological indications.

Executives

Kurt Phinney	officer: Chief Operating Officer	6914 MAGELLAN WAY, SARASOTA FL 34243
Peter O'rourke	director	C/O NORTHVIEW ACQUISITION CORP., 207 WEST 25TH STREET, 9TH FLOOR, NEW YORK NY 10001
Catalina Valencia	10 percent owner	6191 CORNERSTONE COURT, E, SUITE 114, SAN DIEGO CA 92121
Glycodots, Llc	10 percent owner	6191 CORNERSTONE COURT, E, SUITE 114, SAN DIEGO CA 92121
Juniper & Ivy Corp	10 percent owner	5201 MEMORIAL DRIVE, SUITE 616, HOUSTON TX 77007
Huemoeller John Walter Ii	director	305 SAN ANSELMO AVENUE, SUITE 300, SAN ANSELMO CA 94960
Blake Schroeder	director	5 ROCKERFELLER PLACE, 20TH FLOOR, SUITE 83, NEW YORK NY 10111
Robert L Cunningham	director	5 ROCKERFELLER PLACE, 20TH FLOOR, SUITE 83, NEW YORK NY 10111
Timothy Richard Scott	director	5 ROCKERFELLER PLACE, 20TH FLOOR, SUITE 83, NEW YORK NY 10111
Robert Malasek	officer: CFO	PO BOX 235472, ENCINITAS CA 92023
Lekhram Changoer	10 percent owner	18 EAST 50TH STREET, 5TH FLOOR, NEW YORK NY 10022
Medical Marijuana, Inc.	10 percent owner	12255 CROSTHWAITE CIRCLE, POWAY CA 92064
Van Damme Philip A	10 percent owner	18 EAST 50TH STREET, 5TH FLOOR, NEW YORK NY 10022
Foundation Sanammad	10 percent owner	18 EAST 50TH STREET, 5TH FLOOR, NEW YORK NY 10022
George Anastassov	10 percent owner	18 EAST 50TH STREET, 5TH FLOOR, NEW YORK NY 10022