Radient Radiates with Solid Q3 Numbers

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, February 28, 2019

The tech field is a crowded one, and thus, firms trying to get notice have to obtain it with either solid news about a product launch or a more concrete bottom line.

Edmonton-based Radient Technologies (TSX-Venture:RTI) came out Thursday with third-quarter financial results it wanted to share with its investors.

RTI’s balance sheet remains strong, with a cash balance of $37.6 million, and working capital of $37.4 million as of December 31, 2018. This reserve of cash will allow Radient to execute on its previously announced physical and operational expansions in Edmonton and Germany. Thursday’s news release says these facilities will be dedicated to the production of premium grade, high-margin cannabis and hemp derived ingredients and products.

Radient’s current total debt is $10 million and the Company was granted its Standard Processing License from Health Canada on February 1.

“This puts the Company,” said the release, “in an advantageous position as it expects to be generating revenues during the previously announced build-out of its brand new facilities in Edmonton and Germany.”

Stock prices for RTI seemed consistent with this optimistic view, gathering four cents, or 4.3%, to 97 cents, on volume of 524,000 shares.

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