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