RYU lost $9.8M in 2012

RYU lost $9.8M in 2012

Portland-based sportswear brand Respect Your Universe lost $9.8 million in 2012 on $848,000 in sales.

The company, founded in 2008 in Las Vegas, finished the year with $295,000 cash on hand compared to $2.7 million cash the year before, according to its 10-K, or annual report, filed with the U.S. Securities and Exchange Commission.

The bulk of the company's revenue was raised through three stock offerings: About $6 million in the third quarter of 2011, $1.5 million in February 2012, and nearly $4.5 million in August last year, for a total of about $12 million.

Read more at OregonLive.com.

{biztweet}respect your universe{/biztweet}