Source: Forward Water Technologies.
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  • Forward Water (FWTC) filed its consolidated unaudited financial statements for three and six months ended September 31, 2022, and 2021
  • Net loss and comprehensive loss of $524,082 for the three months ended September 30, 2022
  • Forward Water uses its patented Forward Osmosis technology to save the earth’s water supply
  • Forward Water Technologies Corp. (FWTC) is down 28.57 per cent, trading at C$0.05 per share at 1:34 pm ET

Forward Water (FWTC) filed its consolidated unaudited financial statements for three and six months ended September 31, 2022, and 2021.

Q2 financial highlights:

  • Total expenses were $605,179 for three months ended September 30, 2022, and $1,165,118 for six months ended September 30, 2022
  • Net loss and comprehensive loss were $524,082 for the three months ended September 30, 2022. It recorded a loss of $999,559 for the same period in 2021. The net loss and comprehensive loss for the six-month period ended September 30, 2022, was $1,066,048. In comparison, the loss was $1,565,544 for the same period in 2021
  • Basic loss per share was $0.00 and $0.01 for the three and six months ended September 30, 2022, respectively, compared to $0.02 and $0.03 for the same three and six months in 2021

Operating highlights and recent corporate developments:

  • On August 4, 2022, the company issued a total of 502,999 common shares in settlement of compensation to AGORA Internet Relations. This was for certain advertising services provided to the company
  • On September 6, 2022, FWTC announced that it has secured an early development testing project to support a globally positioned mining company to aid in the sustainable lithium isolation pathway
  • On September 20, 2022, the company announced its participation, in conjunction with Membracon UK, to support a study with Cranfield University
  • Significant progress made on the building of the mobile demonstration unit, which is now 80 per cent complete, with an anticipated completion date of February 2023

Howie Honeyman, CEO of Forward Water, commented on the results.

“The company continues to progress on its projected business plan and commercial development. Our focus remains on continued client engagement through the use of our expertise, technical resources and providing access to our proprietary equipment platform.”

Forward Water uses its patented Forward Osmosis technology to save the earth’s water supply. Its technology allows manufacturing operations to clean wastewater that would otherwise require costly disposal.

Forward Water Technologies Corp. (FWTC) is down 28.57 per cent, trading at C$0.05 per share at 1:34 pm ET.


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