VISTA, Calif., Aug. 20, 2024 /PRNewswire/ -- NUZEE, INC., ("NUZEE" or the "Company") (NASDAQ：NUZE) a Company with a heritage in specialty coffee and an emerging business in broader consumer food and beverage products, today announced financial and operating results for the fiscal third quarter ended June 30, 2024.
Ms. Jianshuang Wang, Co- Chief Executive Officer of NUZEE, commented, "NUZEE is in the early stages of transforming itself into a leading digital marketing, sales and distribution company for consumer products. We have recently announced leadership changes and an exclusive sales and distribution agreement with a leading maca producer in Asia, and we expect to continue expanding our sales channels and product breadth."
Q3 2024 Financial Highlights
Revenue increased +37% to $366,888 compared to $268,023 in the year ago period.
Net loss from continuing operations improved to ($1,192,434) from ($1,886,290) in the year-ago period.
On April 27, 2024, the Company entered into a convertible note and warrant purchase agreement with certain investors providing for the private placement of convertible promissory notes in the aggregate principal amount of $320,000 and warrants to purchase up to an aggregate of 221,147 shares of the Company's common stock. The closing of the private placement occurred on May 2, 2024. On ...
