PharmaCielo Ltd. (TSXV:PCLO) (OTCQX: PCLOF), released financial results for the third quarter ended September 30, 2022, revealing total revenue of CA$475,323 ($348,000), a 2% decrease compared to CA$485,165 in Q3 2021.
Q3 Financial Highlights
Gross profit was a loss of CA$305,850 compared to a loss of CA$1.3 million in Q3 2021.
Adjusted EBITDA loss was CA$2.5 million compared to a loss of CA$4.2 million in Q3 2021.
Net loss was CA$5.2 million compared to CA$8.8 million in Q3 2021.
Cash equivalents of CA$425,837 at September 30, 2022.
Bill Petron, chairman and CEO of PharmaCielo stated, "Our team has successfully implemented the turnaround plan we outlined for shareholders when I joined as CEO in August of last year. In the first nine months of 2022, our business development group has initiated shipments to …