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Cult Food Science Corp. ( (TSE:CULT) ) has issued an announcement.
CULT Food Science Corp. has announced a debt settlement agreement to resolve $132,500 in outstanding debt by issuing 8,833,333 common shares at a price of $0.015 per share. This move is intended to preserve cash for working capital and strengthen the company’s balance sheet. Additionally, CULT corrected a previous announcement regarding the number of shares issued in a prior debt settlement, clarifying that 9,390,000 shares were issued instead of the previously stated 18,223,333. This debt settlement is expected to positively impact the company’s financial health and support its strategic goals in the food technology sector.
Spark’s Take on TSE:CULT Stock
According to Spark, TipRanks’ AI Analyst, TSE:CULT is a Underperform.
Cult Food Science Corp.’s overall stock score reflects significant financial difficulties, primarily driven by negative profitability and cash flow challenges. Despite a strong equity position, the company’s reliance on external financing and lack of revenue growth are major concerns. Technical indicators show some short-term positive momentum, but long-term caution remains due to the negative P/E ratio and lack of dividends, making the stock less attractive to investors.
To see Spark’s full report on TSE:CULT stock, click here.
More about Cult Food Science Corp.
CULT Food Science is a disruptive food technology investment platform focused on pioneering the commercialization of lab-grown meat and cellular agriculture. The company invests in equity, debt, or other securities of both publicly traded and private entities, aiming to reshape the global food industry. CULT also provides operational, advisory, and commercialization support to its portfolio companies, with the objective of enhancing long-term shareholder value through innovation.
Average Trading Volume: 81,071
Technical Sentiment Signal: Sell
Current Market Cap: C$1.41M
For a thorough assessment of CULT stock, go to TipRanks’ Stock Analysis page.