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424B3: Prospectus

SEC announcement ·  Jun 6 05:07
Summary by Futu AI
ESGL Holdings Limited, a waste management, treatment, and recycling company, has released its consolidated financial statements for the fiscal years ended December 31, 2022, and 2023. The company reported a significant net loss of approximately $94.98 million for 2023, compared to a net loss of $2.39 million in 2022. The loss before income tax for 2023 was $94.85 million, with listing expenses of $93.07 million being a major contributing factor. The company's revenue increased by 23.5% from 2022 to 2023, primarily due to an increase in waste disposal services. ESGL's total equity stood at $8.02 million as of December 31, 2023. The company also entered into a Forward Purchase Agreement with Vellar Opportunities Fund Master, Ltd. and ACM ARRT K LLC, which was later terminated with no additional cash amounts paid by either party...Show More
ESGL Holdings Limited, a waste management, treatment, and recycling company, has released its consolidated financial statements for the fiscal years ended December 31, 2022, and 2023. The company reported a significant net loss of approximately $94.98 million for 2023, compared to a net loss of $2.39 million in 2022. The loss before income tax for 2023 was $94.85 million, with listing expenses of $93.07 million being a major contributing factor. The company's revenue increased by 23.5% from 2022 to 2023, primarily due to an increase in waste disposal services. ESGL's total equity stood at $8.02 million as of December 31, 2023. The company also entered into a Forward Purchase Agreement with Vellar Opportunities Fund Master, Ltd. and ACM ARRT K LLC, which was later terminated with no additional cash amounts paid by either party. Subsequent to the year-end, ESGL raised $2.5 million through a private share placement. The company's financial statements have been audited by Assentsure PAC and MSPC, with no critical audit matters reported. ESGL Holdings Limited is listed on Nasdaq and has faced challenges with maintaining compliance with Nasdaq's Minimum Bid Price Rule and MVPHS Rule, leading to an application to transfer to the Nasdaq Capital Market.

This announcement is a separate document:

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