Loop Industries Announces Net Loss of $6.7 million for the Third Quarter 2018, including $4.4 million Non-Cash Compensation Costs
Loop Industries, Inc. (LOOP)
US:NASDAQ Investor Relations:
loopindustries.com/en/investors/home
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Source: GlobeNewswire
Pilot Plant Expansion to Increase Capacity and Demonstrate Continuous Operations Private Common Stock Issuance of $7.4 million MONTREAL, Jan. 12, 2018 (GLOBE NEWSWIRE) -- Loop™ Industries, Inc. (NASDAQ:LOOP) (the “Company” or “Loop”), an innovative technology company leading the sustainable plastic revolution, today announced financial results for its third quarter of fiscal 2018, ended November 30, 2017, and provided an update on its financing plans. Third Quarter 2018 Financial Results Loop Industries reported a net loss of $6.7 million for the three months ended November 30, 2017, an increase in net loss of $6.0 million compared to a net loss of $0.7 million for the same period in the prior year. The increase in net loss is primarily explained by non-cash stock-based compensation expense of $4.4 million of which $3.2 million relates to the immediate vesting of equity grants during the quarter which management doesn’t expect to repeat in the future. Other factors impacting
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