Braxia Scientific Faces Challenges In Accessing Public Market Capital, Reports Q1 Loss
Portfolio Pulse from Lara Goldstein
Braxia Scientific Corp. (OTC:BRAXF) reported a Q1 net loss of $592,785, an 18% decrease from the same period in 2022. The company's cash held as of June 30, 2023, was $636,483, compared to $5.67 million by June 30, 2022. Despite the financial challenges, the company saw a 44% YoY increase in revenue and a 17% decrease in operating expenses. CEO Dr. Roger McIntyre mentioned that the company is facing challenges in accessing capital through public markets and is considering alternative sources of capital and partnerships.
August 31, 2023 | 1:28 pm
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Braxia Scientific reported a Q1 net loss, decreased cash holdings, and challenges in accessing public market capital. However, it also reported increased revenue and decreased operating expenses.
The company's reported net loss and decreased cash holdings indicate financial difficulties, which could negatively impact the stock price. However, the increased revenue and decreased operating expenses show some positive financial management, which could mitigate some of the negative impact.
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