NextGen Food Robotics Announces Amendments to Financial Statements

NextGen Food Robotics Corp., a publicly traded entity on multiple stock exchanges including CBOE, OTC PINK, and Frankfurt, disclosed significant amendments to its interim financial statements for periods ending July 31, 2023, and October 31, 2023. The revisions entail adjustments in marketing expenses and a GST rebate reclassification, leading to a recalibration of the company's financial positioning. Specifically, the adjustments have notably improved the company’s working capital and reduced net losses per share for the analyzed periods.

For the quarter ending July 31, 2023, marketing expenses were decreased, which consequently boosted the company’s current assets and diminished its reported net loss. The six-month period ending October 31, 2023, also saw a reduction in marketing expenses linked to a GST rebate, substantially improving the company's financial health by increasing current assets and reducing current liabilities.

These financial adjustments have reflected positively on NextGen's working capital and loss per share figures, suggesting a more robust financial status than previously reported. The amended documents, superseding prior statements and analyses for the respective periods, are now accessible on SEDAR+. NextGen cautions readers regarding forward-looking statements, underlining their inherent risks and uncertainties.