Stagnating sales and delayed rights issue adds to Zoono’s woes

Stagnating sales and delayed rights issue adds to Zoono’s woes
Zoono did it tough after covid induced boom. (Image: Getty)
Denise McNabb
A mounting stockpile of unsold product with looming expiry dates and the postponement of a non-renounceable rights issue due to undisclosed “external circumstances” are the latest woes for cash-strapped Australian securities exchange-listed New Zealand hand and sanitiser manufacturer Zoono Group.In its second quarterly report to December 2023, released Wednesday, the company acknowledged significant work needed to be done before it was cashflow positive and profitable.The group reported a $514,000 net cash deficit on operating activ...

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