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ECOLOMONDO Releases its Interim Consolidated Financial Statements for the Second Quarter of 2022
(TheNewswire) Montreal, QC – TheNewswire - September 6, 2022 -- Ec...
About this update from Ecolomondo Corporation
[{"type":"text","content":"ECOLOMONDO Releases its Interim Consolidated Financial Statements for the Second Quarter of 2022\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 Montreal, QC –\n \n \n TheNewswire\n-\n \n \n September 6, 2022 --\n \n \n Ecolomondo Corporation\n \n \n (TSXV:ECM) (OTC:ECLMF) (the “\n \n \n Company\n \n \n ” or\n“\n \n \n Ecolomondo\n \n \n ”), a cleantech company specializing in the\n \n \n commercialization of its Thermal Decomposition Process\n(“\n \n \n TDP\n \n \n ”) proprietary recycling technology and the building and\noperating of turnkey TDP facilities globally,\n \n \n announces that it has released its unaudited consolidated\nfinancial statements and notes thereto and its related management\ndiscussion and analysis for the interim period ended June 30, 2022\n(the “\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 Q2 Interim Financial Statements\nare:\n \n \n \n \n \n \n As of June 30, 2022, total assets were $42,245,221,\ncompared to $41,587,914 as of December 31, 2021.\n \n \n \n \n \n \n General and administrative expenses increased mostly\ndue to increases in managerial costs, for the Hawkesbury project and\ncosts related to its commissioning, higher foreign exchange loss,\nalong with costs related to the Company’s marketing and expansion\nactivities.\n \n \n \n \n \n \n During the three-month period ended June 30, 2022, the\nCompany continued to invest in the Hawkesbury project. Management\nexpects that working capital will materially improve with (i) the\nexercise of $1,000,000 of stock options (which as of today has\nconcluded), (ii) the completion of the transaction with the joint\nventure partner in the Hawkesbury project, (iii) the soon anticipated\nstart-up of operations at the Hawkesbury facility, and (iv) the\nconclusion of the Third Amending Agreement with Export Development\nCanada (which as of today has concluded).\n \n \n \n \n \n \n For more details on these Q2 Interim Financial\nStatements of Ecolomondo, visit\n \n \n \n \n www.sedar.com\n \n \n \n \n or\n \n \n \n \n www.ecolomondo.com\n \n \n \n \n \n \n During the quarter ended June 30, 2022, the Company\ncontinued to market its...