Upexi reports Q3 EPS (20c) vs. (9c) last year

Reports Q3 revenue $14.4M vs. $21.9M last year. Allan Marshall, CEO of Upexi, commented, “Our year-over-year quarterly financial results include management’s decision to discontinue sales of certain products. Subsequent to the quarter, we made continued progress on our restructuring, which is estimated to provide us with sufficient working capital to fund our operations while reducing our debt to a minimal level. We anticipate the restructuring efforts to result in a leaner more scalable business with an improved balance sheet. Current market conditions and the lack of a healthy lending market has made these difficult decisions necessary. The alternative of a highly dilutive equity raise was a non-starter for management and hard decisions were made to give shareholders the best opportunity for future success. This reset will allow management to focus on opportunities for profitable growth without the debt issue hampering success. We will provide our shareholders with an updated outlook on our operations and detailed financial goals as we complete the final stages as quickly as possible.”