secwatch.observer — SEC 8-K summary
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Issuer:     Loop Industries, Inc. (LOOP)
CIK:        0001504678
Form:       8-K
Filed at:   2023-01-12T23:59:59+00:00
Accession:  0001654954-23-000372
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Loop Q3 net loss $1.01M; sells Bécancour land for $13.9M, focuses on SKGC partnership
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- Revenue of $24,924 from initial PET resin deliveries; net loss of $1.01M vs $10.1M a year ago (includes $6.7M gain on land sale).
- Agreement to sell Bécancour, Quebec site for CDN $18.5M (US $13.9M); expected closing Feb 24, 2023.
- Terrebonne facility hours reduced to cut costs; proceeds and cost savings expected to ensure ongoing liquidity.
- Commercialization focus shifts to SK Geo Centric JV projects in Asia and Europe, with lower equity requirement.
- Legal and professional fees increased $0.63M due to SEC investigation and class action suits.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1504678/000165495423000372/0001654954-23-000372-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1504678/000165495423000372/loop_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-000372

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