Substantial doubt about the company's ability to continue as a going concern.
“At June 30, 2026, the Company had cash of approximately $2.5 million, working capital of $3.3 million, and an accumulated deficit of $123.3 million. For the six months ended June 30, 2026, the Company incurred a net loss of $10.1 million and used approximately $3.8 million of cash in operating activities. The Company's ability to continue as a going concern depends on its ability to scale commercial sales. Management believes that current cash is not sufficient to fund commercial-scale production and the related working capital requirements for the next twelve months. These conditions raise substantial doubt about the Company's ability to continue as a going concern for a period of one year following the issuance date of these unaudited interim consolidated financial statements.”View the 10-Q filed Aug 10, 2026
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Citratech reported third quarter 2026 revenue of $264,000, up 130% from $228,000, and operating losses nearly halved to $2.3 million from $4.2 million.
CitroTech Inc. closed its underwritten public offering on October 22, 2026, selling 2,240,000 shares at $2.50 per share; Univest Securities, LLC received a 45-day option for 336,000 additional shares, a 7.0% underwriting discount, and $50,000 in reimbursed expenses.
CitroTech Inc. amended its registration statement solely to add exhibits, including a renewed U.S. Environmental Protection Agency Safer Choice partnership covering MFB-31, Holiday Tree Spray, and MFB-34, without changing the preliminary prospectus.
CitroTech Inc. is offering 1,639,344 common shares at an assumed $4.27 per share, seeking up to $7.0 million, with estimated net proceeds of approximately $6.3 million for working capital and general corporate purposes.
