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Ecolomondo Releases Its Interim Consolidated Financial Statements For The Period Ended June 30 2024
(TheNewswire) Montreal, QC, August 29, 2024 – TheNewswire – Ecolomond...
About this update from Ecolomondo Corporation
[{"type":"text","content":"Ecolomondo Releases Its Interim Consolidated Financial Statements For The Period Ended June 30 2024\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Montreal, QC, August 29, 2024 –\n \n\n TheNewswire –\n \n\n Ecolomondo Corporation\n \n\n (TSXV: ECM) (OTCQB:\nECLMF) (the “\n \n\n Company\n \n\n ” or “\n \n\n Ecolomondo\n \n\n ”), a\ncleantech company specializing in the commercialization of its Thermal\nDecomposition Process (“\n \n\n TDP\n \n\n ”) proprietary recycling technology and\nthe global deployment of TDP turnkey facilities,\n \n\n announces\n \n\n that it has released its\nunaudited consolidated financial statements and notes thereto and its\nrelated management discussion and analysis (“\n \n\n MDA\n \n\n ”) for the\nthree-month and six-month periods ended June 30, 2024 (the\n“\n \n\n Interim Financial\nStatements\n \n\n ”). The documents are available on\nSEDAR at\n \n\n\n\n www.sedar.com\n \n\n\n\n\n\n Highlights of the unaudited consolidated financial\nstatements for the interim period ended June 30, 2024, are:\n \n\n\n\n\n\n The Company had sales of $235,845 in 2024, including\n$126,630 in the second quarter, all generated from the sales of\nend-products and tipping fees;\n \n\n\n\n\n\n Advances from a company under common control up to June\n30, 2024 total $2,243,434;\n \n\n\n\n\n\n The loss before income tax for the quarter ended June\n30, 2024 was $443,418 compared to a loss of $379,897 for the quarter\nended June 30, 2023, mainly due to the fact that operating expenses\nfor the Hawkesbury facility are now expensed instead of being fully\ncapitalized;\n \n\n\n\n\n\n As of June 30, 2024, capital expenditures for the\nHawkesbury TDP turnkey facility totaled $46,927,307, compared to\n$44,576,.468 as of December 31, 2023, net of depreciation, while to\ndate the Company contributed $13,667,458, mainly used to build the\nHawkesbury turnkey TDP facility.\n \n\n\n\n\n\n During the second quarter of 2024, the Company\nundertook several important goals in corporate governance and\nfinancing. On May 1, 2024, the Company appointed Mr. Gary Economo as\nits new CEO, replacing Mr. Eliot Sorella who would take on the role of\nExecutive Chairman and retain the role of Chairman of the Board of\nDirecto...