EcoSynthetix Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 04, 2020 at 05:39 pm EST
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EcoSynthetix Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was USD 2.991 million compared to USD 4.505 million a year ago. Operating loss was USD 786,501 compared to USD 594,751 a year ago. Net loss was USD 640,690 compared to USD 312,441 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago. For the nine months, sales was USD 10.318 million compared to USD 14.048 million a year ago. Operating loss was USD 2.215 million compared to USD 1.698 million a year ago. Net loss was USD 1.696 million compared to USD 866,265 a year ago. Basic loss per share from continuing operations was USD 0.03 compared to USD 0.01 a year ago.
EcoSynthetix Inc. is a Canada-based renewable chemicals company that specializes in biomaterials used in a variety of end products. The Company offers a range of sustainable engineered biopolymers that allow customers to reduce their use of harmful materials, such as formaldehyde and styrene-based chemicals. It is engaged in the development and commercialization of environmentally friendly, bio-based technologies as replacement solutions for synthetic, petrochemical-based adhesives and other related products in the Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific. It operates in one segment: the biopolymer nanosphere technology platform. The Company's products include EcoSphere biopolymers, EcoMer biomonomers, EcoStix bio-based pressure-sensitive adhesives, and DuraBind bioresins. The DuraBind and EcoSphere, are used to manufacture wood composites, paper, and packaging. Its serves to the markets, such as paper and paperboard, building materials, and other markets.
ECOSYNTHETIX INC. 
