secwatch.observer — SEC 8-K summary
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Issuer:     AQUABOUNTY TECHNOLOGIES INC (AQB)
CIK:        0001603978
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0001603978-24-000034
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AquaBounty Q1 net loss $11.2M, impairment charges, cash drops to $3.6M, secures bridge loan
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- Net loss $11.2M vs $6.5M a year ago; includes $4.3M impairment on Indiana farm assets and $1.0M inventory write-down.
- Cash and restricted cash $3.6M at Mar 31, down from $9.2M at Dec 31, 2023.
- Executed bridge loan up to $10M secured by farm assets; $5M drawn to date.
- Decided to sell Indiana farm; harvested >320mt of fish (majority below market weight) in preparation.
- PEI farm generated $82k revenue from conventional salmon eggs; secured large order from major salmon producer.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1603978/000160397824000034/0001603978-24-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1603978/000160397824000034/aqb-20240515x8k.htm
  HTML page:      https://secwatch.observer/filing/0001603978-24-000034

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