Summary by Moomoo AI
AgriFORCE Growing Systems Ltd. (AgriFORCE) reported its financial performance for the quarter ended September 30, 2024. The company generated revenue from the sale of 8 hydroxyl generating devices, totaling $41,315. This marks the company's first revenue from product sales, as there were no sales in the same period of the previous year. Operating expenses increased by $3,974,421 or 244% year-over-year, primarily due to a $4,137,271 intangible asset impairment related to the Manna patent. Other significant changes in operating expenses included increases in consulting, office and administrative expenses, and research and development, partially offset by decreases in professional fees, wages and salaries, and share-based compensation. Other expenses increased due to a higher loss on conversion of convertible debt and a loss on long-term...Show More