Lionheart Holdings(US:CUB) Newsfile·2024-12-17 23:06Core Viewpoint - CubicFarm Systems Corp. has filed its third quarter financial statements for the period ending September 30, 2024, and provided updates regarding its financial performance and ongoing regulatory issues [3][4][7]. Financial Performance - For the three months ended September 30, 2024, the company reported revenue of approximately $57,000, while for the nine months, revenue totaled approximately $208,000 [4]. - Corporate overhead for the three months was $1.7 million, a reduction of $0.5 million or 22% compared to the previous year. For the nine months, corporate overhead totaled $6.7 million, down by $2.3 million or 26% from $9.0 million in the prior year [5]. - The net loss for the three months was $2.6 million, compared to $2.2 million in the prior year, while the nine-month net loss was $7.0 million, down from $10.9 million in the previous year [6]. Regulatory Updates - The British Columbia Securities Commission issued a cease trade order on July 15, 2024, prohibiting trading of the company's securities in Canada due to failure to file required documents [8][9]. - The company has submitted applications to revoke the cease trade order and to reinstate its listing on the TSX Venture Exchange, and is currently awaiting responses from regulatory bodies [10]. Operational Focus - The company is focused on implementing further cost reductions while continuing to invest in its Feed as a Service (FaaS) initiatives [8]. - The management expressed gratitude to shareholders for their patience during the completion of the financial statements and emphasized ongoing efforts to improve operational efficiency [7]. Company Overview - CubicFarm is an agricultural technology company that develops solutions for producing high-quality produce and livestock feed using its proprietary HydroGreen Nutrition Technology [12]. - The company aims to provide efficient, localized food supply solutions that benefit the environment and economy [12].