My Foodie Box (ASX: $MBX) Quarterly Activities Report

My Foodie Box Limited (ASX: $MBX) has released its quarterly activities report for the period ended 31 December 2023. The company reported a small operating surplus in the last quarter and highlighted the reduction of costs in line with decreasing top line. Additionally, the company announced its intention to divest the My Foodie Box business, subject to shareholder approval, and seek a new asset or business acquisition to restore shareholder value.

Executive Commentary

The Company is pleased to report a small operating surplus in the last quarter, achieved through a focus on cost reduction. We are also excited about the prospect of divesting the My Foodie Box business, which will allow us to minimize material liabilities and seek new opportunities to enhance shareholder value. We remain committed to our vision of expanding our services and product offering to become a broader, national e-commerce business, and we believe this strategic move will align with our long-term goals.

Summary

My Foodie Box (ASX: $MBX) has demonstrated resilience by achieving a small operating surplus in the last quarter through cost reduction efforts. The company's plan to divest the My Foodie Box business, subject to shareholder approval, reflects its commitment to minimizing material liabilities and seeking new opportunities to restore shareholder value. With a vision to expand its services and product offering to become a broader, national e-commerce business, My Foodie Box remains focused on sustainable growth and delivering value to its shareholders.