POET Technologies (TSE:PTK) has released an update.
POET Technologies Inc. reports a substantial increase in cash and cash equivalents, reaching over $21 million as of June 30, 2024, up from $3 million at the end of the previous year. However, the company has also experienced a net loss of approximately $14 million for the first half of the year, indicating ongoing financial challenges. These financial results are part of the company’s interim consolidated statements, which also detail liabilities and shareholders’ equity.
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