Bod Science Quarterly Report Highlights

Bod Science (ASX:BOD) has published its Quarterly Activities Report for the period ending 30 September 2024. The company, focused on cannabis drug development, is undergoing a Deed of Company Arrangement with Biortica Agrimed due to voluntary administration since November 2023. The quarter revealed a net cash outflow of $4,000 from operating activities, with customer receipts of $149,000. A delay in the Share Purchase Agreement has postponed the extraordinary general meeting to late November 2024.

Overview and Future Prospects

Bod Science Limited's latest quarterly report indicates ongoing financial restructuring under a Deed of Company Arrangement with Biortica Agrimed. The company experienced a net cash outflow from operations while receiving $149,000 in customer receipts. Delays in finalizing a Share Purchase Agreement with Biortica have postponed an extraordinary general meeting to late November 2024. Bod Science is working towards meeting ASX re-compliance requirements and aims to launch new SKUs in the December 2024 quarter. The company is also planning to expand its distributor base. The DOCA with Biortica is a pivotal component in sustaining operations and securing future funding.

Executive Commentary on Quarterly Performance

The Company will remain in suspension during the deed administration process. The extraordinary general meeting, initially expected in September 2024, is postponed to late November 2024 due to delays in executing the Share Purchase Agreement with Biortica.