- RiceBran Technologies (OTC:RIBT) has sold its Golden Ridge rice mill located in Wynne, Arkansas for $2.15M.
- The divestiture is expected to, based upon Q3 2023 results, further narrow RiceBran's projected annual net loss by ~$1.5M while not jeopardizing the estimated $54.4M in federal and $46M in state net operating loss carryforwards that the Co. had amassed as of Dec. 31, 2022.
- "This sale eliminates cash and working capital drags on the business' profitability, streamlining operations while preserving the Company's net operating loss carryforward assets," commented Eric Tompkins, RiceBran's Executive Chairman.
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