Phoslock Environmental Technologies Limited (AU:PET) has released an update.
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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.
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