Carbonxt Group financial update

Carbonxt Group (ASX: CG1) has identified and corrected an error in its Appendix 4C report for the September 2024 quarter. The company reported a net cash outflow of $1.748 million from operations and a net cash inflow of $2.239 million from financing activities. Positive cash flow is anticipated next quarter due to new contracts and operational facilities.

Carbonxt Group's financial outlook and strategy

Carbonxt Group reported a net cash outflow from operations of $1.748 million and a net cash inflow of $2.239 million from financing activities for the September 2024 quarter. The company corrected an error in their Appendix 4C report, specifically in section 8.5 concerning estimated funding quarters. With a current cash position of $2.878 million and a secured $15 million loan facility, Carbonxt aims to improve its financial standing. The company expects positive operational cash flow next quarter due to a new contract effective from October 2024 and the operational status of the Kentucky facility. These developments align with Carbonxt's focus on providing activated carbon products for industrial emissions control.

Executive insights on financial correction

The company identified an error in section 8 of its Appendix 4C report and has updated the figure in section 8.5, which relates to the estimated quarters of funding available. Additionally, responses to questions in section 8.6 have been provided.