Energy Focus, Inc., (EFOI) is a leading innovator in the field of energy efficient lighting systems. The company provides fine quality products such as sustainable light emitting diode (LED) lighting control technologies and solutions, as well as ultraviolet light disinfection (UVCD) technologies and solutions. An important product EnFocusTM lighting control platform enables existing and new buildings to provide quality, convenient and affordable, dimmable and color-tunable, circadian and human-centric lighting capabilities.
The stock price of EFOI during December 14, 2021 regular trading session was $3.96 with significant decline of 15.83%
Events and Happenings
On December 14, 2021 EFOI announced that it had entered into definitive securities purchase contracts with investors for the issuance and sale of a total of 1,278,413 shares of the Company’s common stock and warrants to buy up to 1,278,413 shares of common stock.
On December 08, 2021, EFOI announced that it started selling its nUVo™ TRAVELER and nUVo™ TOWER. nUVo™ products which are basically air disinfectors are intended to destroy 99.9% of airborne germs including molds, bacteria, viruses specifically coronavirus and its variants. By the application of the of UVC-254nm light, which has established disinfecting power, it breaks the DNA and RNA strands of pathogens thus weakening them.
On November 12, 2021, EFOI announced its financial results for third quarter which ended on September 30, 2021. The key financial highlights are as follows
For Q3 2021, net loss of $1.1 million, or $(0.22) per basic and diluted share was reported against a net loss of $1.2 million, or $(0.35) per basic and diluted share for the duration of the third quarter of 2020.
The total assets of the company were reported to be $14 million for Q3 2020 while for the same period of 2021, the total assets were $13 million.
On October 18, 2021, EFOI announced that mUVe™, an automated and non-chemical based surface disinfectant robot, was the official Virus-Targeted UVC Robo-Disinfector for the LightFair 2021 conference and tradeshow held in New York City.
The stock price is gradually plummeting during the pre-market as well as regular trading hours although the company started selling one of its sought-after products a few days ago. The analysts are quite positive that the new product sales and definitive security purchase agreement will prove beneficial factors for the uprising of the stock.