AgriFORCE Growing Systems, Ltd. (AGRI) is a leader in the development of automated growth systems for the agriculture sector. The company exploits hydroponics systems for the development of different agricultural products. The company is also involved in refining the approaches utilized in controlled-environment agriculture.
The price of AGRI stock during the early trading of March 10, 2022, was last checked to be $3.35 with a gain of 98.81%.
AGRI: Events and Happenings
On March 10, 2022, AGRI updated on its entry into a binding LOI for the acquisition agreement of Deroose Plants NV. It is a leading global tissue culture propagation company with a directory role in horticulture and other sectors. On March 09, 2022, AGRI reported its Executive management’s presentation at the 34th Annual Roth Conference being held on March 13-15, 2022.
On March 08, 2022, AGRI announced the execution of a non-binding term sheet with an institutional investor for convertible debt service of approximately $20 million. The notes will be convertible at a price of $2.75 per share. The company will obtain a preliminary amount worth $10 million and would have the right to take a supplementary $10 million at its will.
On February 25, 2022, AGRI informed the press about its management’s participation at the Gravitas’ 5th Annual Growth Conference held on March 3, 2022. On February 22, 2022, AGRI announced its entry into a proprietary global licensing deal with Radical Clean Solutions Ltd. for the marketing of its hydroxyl generating system.
AGRI: Key Financials
On November 15, 2021, AGRI reported its financial results for the quarter ended September 30, 2021. Some of the key updates are as follows.
Revenue
No revenues were reported by the company in the comparable quarter in 2021 and 2020.
EPS
Net loss basic and diluted per share in the third quarter of 2021 was $1.82 million or $0.14 against $0.97 million or $0.12 in the same period of 2020.
Conclusion
AGRI stock outdid by 36% in the year-to-date period. The company’s recent stock incline points towards its announcement of its entry into a binding LOI agreement with Deroose Plants.
