iHub News
2月前
RenX reports $8.2M revenue and $15.9M net loss in first year after recycling pivotApril 1, 2026 10:45 AM
IH Market News
RenX Enterprises Corp. (NASDAQ:RENX) generated $8.2 million in revenue during the seven months following its June 2 acquisition of an organic waste processing business, surpassing its previous guidance of $7.0 million by 17%, according to a company press release.For the fiscal year ended December 31, 2025, the company reported a net loss of $15.9 million. This figure includes about $4.8 million in non-recurring expenses, consisting of a $3.0 million reserve tied to legacy notes receivable, a $966,000 asset impairment, and an $818,000 investment loss.RenX operates an 80-acre organics processing facility in Myakka City, Florida, through its subsidiary Resource Group US Holdings. At the site, the company processes organic waste into compost, engineered soils, and growing media. Its logistics activities are conducted through Zimmer Equipment Inc.The company reported a blended gross margin of 29.1% for 2025, an improvement compared with the 26.4% margin recorded in the twelve months ending in Q3 2025. By the end of the year, RenX held $1.08 million in finished goods inventory.During the fiscal year, RenX reduced $11.9 million in legacy debt through repayments and debt extinguishments. However, the company still carried $25.97 million in total debt as of Q3 2025. At its Florida facility, RenX deployed several pieces of processing equipment, including a Diamond Z track horizontal grinder, a Komptech Shredder, and a Komptech XL3 screening system.The company has also ordered a Microtec UTM 1200 Turbo Mill, which is expected to arrive in April 2026. The system is capable of processing up to 10 tons of woody biomass per hour. RenX anticipates completing installation and commissioning within 2026, with commercial production expected to begin in the second half of the year.Additionally, RenX is marketing two legacy real estate assets located in Atlanta and Durant, Oklahoma, with plans to use proceeds from potential sales to reduce debt and support operations.Earlier in 2025, the company operated as Safe and Green Development Corporation, a real estate holding firm, before transitioning to its current business model following the June 2 acquisition of Resource Group US Holdings.In other recent developments, RenX announced a 1-for-20 reverse stock split, which became effective on March 26, meaning its shares now trade on a split-adjusted basis. The company also installed a Komptech XL3 trommel screener with an automated conveyor system at its Myakka City facility, a move expected to improve operational efficiency by reducing the need for multiple operators.RenX is also preparing to receive the UTM 1200 Turbo Mill from Germany, scheduled to arrive in April 2026. The equipment will play a key role in converting biomass materials into engineered soil products.Additionally, the company restructured its investment in the Norman Berry property in Georgia, converting its $600,000 equity stake into a secured note while maintaining a 50% ownership interest. These steps reflect RenX’s broader strategy as it shifts toward a biomass processing and engineered soils platform.RenX Enterprises stock price
Original: RenX reports $8.2M revenue and $15.9M net loss in first year after recycling pivot
iHub News
2月前
RenX to implement 1-for-20 reverse stock split starting March 26March 24, 2026 10:55 AM
IH Market News
RenX Enterprises Corp. (NASDAQ:RENX) announced it will carry out a 1-for-20 reverse stock split of its common shares, which will take effect at 12:01 a.m. Eastern Time on March 26, according to a company press release.Trading of the company’s stock on the Nasdaq Capital Market will begin on a split-adjusted basis when markets open that day. Following the reverse split, the shares will trade under a new CUSIP number, 78637J402.The company’s Board of Directors approved the final ratio after receiving authorization from shareholders at the annual meeting held on September 29, 2025. At that meeting, investors approved a reverse split within a range of 1-for-5 to 1-for-20, leaving the exact ratio to be determined by the board.The action will reduce the number of outstanding shares from roughly 50 million to about 2.5 million. Shareholders’ ownership percentages will remain unchanged, except for adjustments resulting from fractional shares. The company will also apply proportional adjustments to equity awards, warrants and other convertible securities, including related exercise prices.The total number of authorized shares will remain the same. Investors who would otherwise receive fractional shares will instead receive a cash payment calculated using the average closing price of the stock over the ten trading days prior to the effective date, multiplied by the number of pre-split shares corresponding to the fractional portion.RenX said the reverse split is intended to help the company regain compliance with Nasdaq Capital Market’s minimum bid price requirement of $1.00 per share. The stock currently trades around $0.14 and has declined by more than 90% over the past year.RenX is an environmental processing and sustainable materials company operating an 80-acre organics processing facility in Myakka City, Florida. The site produces compost, engineered soils and specialty growing media.In recent developments, the company deployed a Komptech XL3 trommel screener equipped with an automated three-stacker conveyor system at its Myakka City facility to improve operational efficiency. RenX also told shareholders it expects delivery of a Microtec UTM 1200 Turbo Mill in March 2026 to support production of its engineered soil products.As part of a financial restructuring effort, the company converted a $600,000 equity investment tied to a Georgia property into a secured note while retaining its 50% ownership stake.RenX previously received a notice from Nasdaq after failing to meet the $1.00 minimum bid price requirement for 30 consecutive days, although the notice does not immediately affect its listing status. Additionally, the company’s subsidiary, Resource Group US LLC, signed a waste disposal agreement with a commercial landscaping company in Sarasota, Florida, to process organic materials. These updates highlight RenX’s ongoing operational and financial initiatives.RenX Enterprises stock price
Original: RenX to implement 1-for-20 reverse stock split starting March 26
zerohedge
6月前
The only fertilizer is the shit they’re shoveling into the market. They did a 90,000,000 share deal with three finance parties who will sell for the next month and you can believe what you want. The deal was stuffed with Merchant Cash Advance debt and the “business” never made money before they acquired it. If they create revenue from their new trash recycling deal, it’ll be some time around June/July 2026 and maybe revenues sometime after that. In the meantime you got -90% diluted….. before they have to raise more money. Will they get booted from the exchange before that time? They were inept before they’re still inept. You think their groovy dirt recycling business is worth 100,000,000 shares outstanding at what price? It’s a frigging joke.
Helter Skelter
2年前
Trading Volume Formula. If you are an affiliate, the number of equity securities you may sell during any three-month period cannot exceed the greater of 1% of the outstanding shares of the same class being sold, or if the class is listed on a stock exchange, the greater of 1% or the average reported weekly trading volume during the four weeks preceding the filing of a notice of sale on Form 144. Over-the-counter stocks, including those quoted on the OTC Bulletin Board and the Pink Sheets, can only be sold using the 1% measurement. 1% of the OS (of around 23 million) would be only 230,000 shares per 3 month period...
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