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Australian Oilseeds Holdings Limited (COOT+1.73%) has submitted its annual report on Form 10-K for the fiscal year ended June 30, 2024 filing.
The filing details the company's financial performance, including a reported loss of AUD$21,230,681 for the year, compared to a profit of AUD$1,844,970 in the previous year. The loss is attributed primarily to recapitalization expenses related to the company's business combination.
Revenue for the year increased by 16.1% to AUD$33,727,222, driven by higher demand for cold pressed canola oil and expanded customer contracts.
Cost of sales rose by 15.6% to AUD$27,810,782, reflecting increased production costs associated with the higher sales volume.
General and administrative expenses increased by 30.7% to AUD$3,224,843, largely due to costs associated with the business combination and increased staffing.
The company completed a business combination with EDOC Acquisition Corp on March 21, 2024, resulting in Australian Oilseeds becoming a publicly traded company on the Nasdaq under the ticker 'COOT'.
Australian Oilseeds Holdings Limited is focused on the production and sale of chemical-free, non-GMO edible oils and products derived from oilseeds, with operations primarily in Australia.
The company faces risks related to its reliance on contracts with local and regional farmers for oilseeds, as well as potential fluctuations in the global oilseed market.
Future plans include expanding its cold-pressing capacity and establishing a new processing plant in Queensland to meet growing demand for non-GMO and sustainable products.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Australian Oilseeds Holdings Limited annual 10-K report dated December 3, 2024. To report an error, please email earnings@qz.com.