Sprout AI (CSE: SPRT), a vertical farming technology company, today announced that it has filed its unaudited interim third quarter (“Q3”) financial statement (“FS”) and management’s discussion and analysis (“MD&A”) for both Sprout AI Inc. (formerly “1262803 B.C. LTD.”) and Sprout AI S.A. (“Sprout AI”). According to the update, both the FS and MD&A represent an amalgamated report concerning both Sprout AI Inc. and Sprout AI S.A. Sprout AI Inc. reported its interim results ending Aug. 31, 2021, in Canadian dollars, while Sprout AI S.A. reported its interim results ending July 31, 2021, in U.S. dollars. Among the Q3 highlights, the company reported that its objective when managing capital is to maintain adequate levels of funding to support the development of its business and maintain the necessary corporate and administrative functions to facilitate related activities. The company is transitioning from primary reliance on equity financing to reliance on non-refundable client deposits and anticipates its working capital will continue to improve as it obtains additional non-refundable client deposits on future orders and funding.
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About Sprout AI Inc.
Sprout AI is a vertical farming technology company in the business of planning, designing, manufacturing and/or assembling sustainable and scalable AI-controlled vertical cultivation equipment for indoor vertical farming. The adaptive technology produces an environment with improved growing parameters and early detection of adverse conditions resulting in consistent and repeatable crops, with shorter cultivation cycles independent of geographic climates. The self-contained multi-level rolling rack technology increases the cubic cultivation area while mitigating the risk of outside and cross-contaminants. For more information about Sprout AI, please visit www.SproutAI.solutions.
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