Ecofibre Ltd. (AU:EOF) has released an update.
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Ecofibre Ltd. reported a positive third-quarter performance with a 13% revenue increase to $8.1 million and a reduction in operating costs, alongside strategic asset sales totaling $7.1 million to enhance liquidity and focus on core businesses. Both Ecofibre Advanced Technologies and Ananda Health achieved positive EBITDA results, while the company also made progress in its cash positive plan, despite the continued challenge of becoming cash flow positive. Ecofibre is actively reducing debt and financial risk by asset monetization, including a non-binding LOI to sell two properties for $10.4 million.
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