Genetic Technologies (AU:GTG) has released an update.
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Genetic Technologies Limited is shifting to a more cost-effective ‘capital light’ operations model to primarily boost sales in the U.S. market without affecting its core businesses, EasyDNA and GeneType. The company plans to reduce monthly expenses significantly by outsourcing and collaborating, aiming to become cash flow positive by the end of 2025. To support this transition, GTG has secured an $800,000 loan and is launching an Entitlement Offer to raise additional funds.
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