Summary by Moomoo AI
AgriFORCE Growing Systems Ltd. (AgriFORCE) reported its financial performance for the quarter ended March 31, 2024, with a net loss of $3.3 million, compared to a net loss of $1.7 million for the same period in 2023. The company's accumulated deficit reached $47.8 million. Operating expenses decreased by 52% year-on-year, primarily due to reduced professional fees, consulting, and wages, as well as a significant decrease in share-based compensation. Other expenses decreased due to a smaller change in the fair value of derivative liabilities and a reduction in accretion interest on debentures. AgriFORCE's business development efforts included the launch of UN(THINK) Awakened Flour™ and the commercialization of hydroxyl devices for controlled environment agriculture (CEA) and food manufacturing. The company also focused on...Show More