Midwest Energy Emissions Corp. ("ME2C Environmental " or the "Company"), a leading environmental technologies firm, has reported financial results for the second quarter ended June 30, 2024. The Company reports the following highlights for the period ended June 30, 2024:
Q2 Financial Summary Highlights:
Cash on hand of $8.4 million
Working capital of $4.8 million
1.7 to 1 ratio of current assets to current liabilities
Revenues for Q2 2024 were $3.4 million
Reduction in interest expense of $334,000 primarily the result of the restructure and repayment of principal on Alterna Capital notes during Q1
Additional information can be found in the Company's Form 10-Q for the quarterly period ended June 30, 2024, filed with the Securities and Exchange Commission on August 12, 2024.
"The first half of 2024 included considerable investments in our strategic growth," said Richard MacPherson, CEO of ME2C Environmental. "The strong validation of our patent rights from major industry leaders, which included significant settlements in late 2023 and a unanimous jury award in early 2024, has supported our steadfast protection of these innovative core technologies. We are focused on leveraging our settlements to create new long-term customers."
McPherson said the Company continues to make progress in the development of new activated carbon technologies. The new technologies focus on removing "forever chemicals" from potable water. "We are confident that we will succeed in our ability to introduce a series of commercial products to the water utility market in the near term," McPherson said.
