Melodiol Global Health (AU:ME1) has released an update.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Melodiol Global Health reported robust financial performance with FY23 revenues soaring to $21.6 million, marking a 148% increase, and continuing the upward trajectory with a 91% jump to $4.4 million in Q1 FY24. The company’s strategic financial moves include receiving independent appraisals for its Mernova property valued between $10.4 and $12.0 million, and securing a convertible note facility worth up to $5 million with Harbour Capital Opportunities Fund to support growth and operational costs. These efforts reflect Melodiol’s commitment to strengthening its balance sheet and accelerating its path to profitability.
For further insights into AU:ME1 stock, check out TipRanks’ Stock Analysis page.
