Pond Technologies Holdings Inc ( (TSE:POND) ) has provided an announcement.
Pond Technologies Holdings Inc. announced the issuance of 7,500,000 common shares to settle $75,000 of debt owed to executive officers and a consultant. This move, approved by the TSX Venture Exchange, allows Pond to conserve cash for ongoing operations and highlights the commitment of its executives and consultant to the company’s mission. The transaction reflects Pond’s strategic efforts to manage financial resources while continuing to focus on its core business of sustainable technology solutions.
More about Pond Technologies Holdings Inc
Pond Technologies Holdings Inc., based in Markham, Ontario, is a leader in the controlled environment cultivation of microalgae. The company has developed a disruptive technology platform utilizing artificial intelligence, proprietary LED lights, and patented CO2 management to enhance microalgae productivity. Pond’s technology is used to produce microalgae-derived products such as the antioxidant astaxanthin under the Regenurex brand, and it licenses its technology for applications in pharmaceuticals, cosmetics, nutraceuticals, human nutrition, aqua farming, bioplastics, and biofuels.
YTD Price Performance: -50.0%
Average Trading Volume: 96,058
Technical Sentiment Signal: Buy
Current Market Cap: C$780.9K
Learn more about POND stock on TipRanks’ Stock Analysis page.