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Cult Food Science Corp. ( (TSE:CULT) ) has shared an update.
CULT Food Science Corp. has announced a debt settlement agreement with certain creditors to settle outstanding debts totaling $273,350 by issuing 18,223,333 common shares at a deemed price of $0.015 per share. This strategic move is intended to preserve cash for working capital purposes, reflecting the company’s commitment to maintaining financial stability and supporting its innovative efforts 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 companies, and provides operational, advisory, and commercialization support to its portfolio companies. CULT aims to reshape the global food system and enhance long-term shareholder value through innovation and active stewardship.
Average Trading Volume: 176,270
Technical Sentiment Signal: Sell
Current Market Cap: C$1.4M
Learn more about CULT stock on TipRanks’ Stock Analysis page.