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Ecolomondo Releases its Interim Consolidated Financial Statements for the Period Ended September 30 2024
(TheNewswire) Montreal, QC, November 28, 2024 – TheNewswire – Ecolomo...
About this update from Ecolomondo Corporation
[{"type":"text","content":"Ecolomondo Releases its Interim Consolidated Financial Statements for the Period Ended September 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, November 28, 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\nleading innovator in sustainable tire recycling technology,\n \n\n announces\n \n\n that it has\nreleased its unaudited consolidated financial statements and notes\nthereto and its related management discussion and analysis\n(“\n \n\n MDA\n \n\n ”) for the three-month and nine-month periods ended\nSeptember 30, 2024 (the “\n \n\n Interim Financial Statements\n \n\n ”). The\ndocuments are available on SEDAR 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 September 30, 2024,\nare:\n \n\n\n\n\n\n The Company had sales of $409,682 in 2024, including\n$173,837 in the third quarter, all generated from the sales of\nend-products and tipping fees, resulting in a cumulative increase of\n167% compared to 2023;\n \n\n\n\n\n\n As of September 30, 2024, capital expenditures for the\nHawkesbury TDP turnkey facility totaled $47,897,206, compared to\n$44,554,339 as of December 31, 2023, net of depreciation.\n \n\n\n\n\n\n During the third quarter of 2024, the Company undertook\nseveral important goals in financing, operations and corporate\ngovernance. On July 18, 2024, the Company announced the conclusion of\nfinal documentation for the loan of $3 million from Export Development\nCanada (“EDC”), destined to improve the Hawkesbury subsidiary’s\ncash position and pay for additional equipment needed to help bring\nthe Hawkesbury plant to commercial operation.\n \n\n\n\n On July 26, 2024, the Company announced the closing of\na previously announced non-brokered private placement for gross\nproceeds of C$506,660.04. In addition, in September 2024, the Company\nwas allowed to modify the conditions of 3,076,922 warrants issued\npursuant to a Company’s private placement closed on September 24,\n2021: the expiry date is extended by an additional 2 years to\nSeptember 24, 2026, and the exerc...