California Nanotechnologies (TSE:CNO) has released an update.
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California Nanotechnologies reported a remarkable 122% year-over-year increase in quarterly revenue, reaching a record US$1.52 million, driven by manufacturing growth and improved gross margins. Despite the impressive sales, the company faced a net loss due to a non-cash charge linked to share purchase warrants. The company is optimistic about future performance with new investments in its Santa Ana facility and ongoing debt reduction.
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