The announcement of operating and financial results for the three and six months ended June 30, 2024 has been made by CVW CleanTech Inc. (TSXV: CVW) (OTCQX: CVWFF). The company’s cash on hand as of June 30, 2024, was $4.6 million, demonstrating prudent treasury management. The net loss for the three-month period ended June 30, 2024, was $1,230,000, with a net loss per share of $0.01 (basic and diluted). Additionally, non-cash charges for stock-based compensation expense totaled $593,000 for the same period.
For the six-month period ended June 30, 2024, the net loss was $2,181,000, with a net loss per share of $0.02 (basic and diluted), and non-cash charges for stock-based compensation expense totaling $906,000. Furthermore, on August 7th, 2024, the company entered into a royalty investment with Northstar Clean Technologies Inc. and a private placement offering of $15,000,000.
CEO Akshay Dubey highlighted the company’s focus on diversification into clean tech royalty platforms to create shareholder value and accelerate growth. The company remains committed to advancing the commercial deployment of its Creating Value From Waste™ technology to deliver value to shareholders. The company’s vision is to invest in innovative technologies that operate sustainably, contributing to the transition to a net-zero world.
CVW CleanTech Inc. trades on the TSX Venture Exchange under the symbol “CVW” and on the OTCQX under the symbol “CVWFF.” Forward-looking statements contained in this news release reflect management’s expectations regarding the future results, performance, achievements, and opportunities for the company. Investors are advised to exercise caution when relying on forward-looking statements due to inherent uncertainties and risks. The company’s assumptions and beliefs are based on available information at the time of making such statements. Any updates to forward-looking statements will be provided as required by law.
For further information, please refer to the original press release: SOURCE: CVW CleanTech Inc.
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