Spectra7 Micro (TSE:SEV) has released an update.
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Spectra7 Microsystems Inc. anticipates a significant drop in first quarter revenue for 2024, projecting just $0.75 million compared to the previous year’s $3.1 million, due to ongoing market slowdowns. The company is currently facing a liquidity crunch, with existing cash reserves predicted to last only until the end of April 2024, prompting the board to consider strategic options such as emergency funding or a potential sale to enhance shareholder value. Amid these challenges, Spectra7 remains focused on operational commitments and the upcoming commercial production of its Active Copper Cable semiconductor products.
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