RiceBran Technologies (RIBT) is a company associated with the production of food and animal nutrition. The company converts raw rice bran to stabilized rice bran (SRB) and other nutritious by-products. SRB can be further processed to form important derivatives. These derivatives include RiBalance which is a complete rice bran nutritional package, RiSouble which is carbohydrate and lipid rich by-product of RiBalance and RiFiber which is protein and fiber rich insoluble by-product of RiBalance. The company also processes rice, rice co-products, barley and oat products.
During the regular trading hours of December 13, 2021, the stock price of RIBT was $0.39 with a significant decline of 6.67%. while at the time of writing, the pre market hours for December 14, 2021 showed a further 3.06% reduction.
Key Financial Results
RiceBran Technologies on October 27, 2021announced financial results for the third quarter ended September 30, 2021. Some of the key financial features are discussed below
Revenue
RIBT reported a 34% increase in its revenue from $5.1 million during the third quarter 2020 as opposed to $6.9 million.
Loss per Share
Net loss for the Q3 2020 was reported to be $2.7 million, or $0.07 per basic and diluted share as compared to net loss for the same period of 2021, it was $2.2 million, or $0.05 per basic and diluted share.
Assets
The total assets for RiceBran Technologies reported for the third quarter 2021 ended September 30,2021, were $34.7 million.
Events and Happenings
On November 24, 2021, RIBT reported that the management of the company was participating in The Benchmark Company’s Discovery One-on-One Virtual Video Investor Conference, held on December 2, 2021.
On September 9, 2021RIBT announced that it has entered into a definitive securities purchase deal with an institutional investor. Upon closing, the Company expects to receive gross proceeds of approximately $3.0 million, which does not include any proceeds that may be received upon the exercise of warrants. At this occasion, the Chief Financial Officer of the company Todd Mitchellwas optimistic that the agreement with the investor allowedRiceBran to make key investments to support company’s transition to a high value-added company. He noticed that the deal would expand the manufacturingcapacity of the company ahead of the expectedsurge in the product demand.
Conclusion
The stock of RIBT is gradually plunging but the investors are still optimistic about the company, as financial results of the company showed a significant 34% increase in the company’s revenue.
