Cielo Waste Solutions Reports 2023 Annual Financial Results
CALGARY, Alberta, June 21, 2023 (GLOBE NEWSWIRE) -- Cielo Waste Solutions Corp. (TSXV: CMC; OTCQB: CWSFF) (“Cielo” or the “Company”), a waste-to-fuel company, today reports financial results for the three months and year ended April 30, 2023.
- CALGARY, Alberta, June 21, 2023 (GLOBE NEWSWIRE) -- Cielo Waste Solutions Corp. (TSXV: CMC; OTCQB: CWSFF) (“Cielo” or the “Company”), a waste-to-fuel company, today reports financial results for the three months and year ended April 30, 2023.
- The Company continued to focus during and subsequent to the year ended April 30, 2023 on progressing toward the commercialization of its waste‐to‐fuel technology while strategically managing costs.
- During the quarter ended April 30, 2023, Cielo had negative operating cash flow, consistent with prior periods and as expected in a pre‐revenue business.
- The net loss for the Company for the fourth quarter of 2023 was $4.1 million, and April 30, 2022, the net loss was $2.2 million.