Phoslock Environmental Technologies Limited (AU:PET) has released an update.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Phoslock Environmental Technologies Limited is facing ongoing Australian Federal Police investigations with no recent updates, and its financial accounts release has been delayed as it seeks to be recognized as a going concern. Amidst a suspension of trading on the ASX, the company reported a quarterly sales increase to $0.46 million and a decrease in operating costs, with a focus on selling existing inventory and an optimistic forecast for the second half of the year. Additionally, the company is dealing with a Federal Court proceeding initiated by a shareholder for preliminary discovery.
For further insights into AU:PET stock, check out TipRanks’ Stock Analysis page.