Smart for Life Reports Significant Balance Sheet Improvement; Achieves Over $9.4 Million in Positive Net Stockholders' Equity Following Successful Restructuring Efforts
Smart for Life, Inc. (SMFL)
Company Research
Source: GlobeNewswire
MIAMI, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Smart for Life, Inc. (OTC: SMFL) (“Smart for Life” or the “Company”), a distinguished leader in the Health & Wellness sector specializing in the marketing and manufacturing of nutritional supplements and foods, today announced significant progress in strengthening its balance sheet following a series of restructuring initiatives over the past several quarters. The Company has significantly improved its financial position, transitioning from negative net stockholders' equity to over $9.4 million in positive net stockholders' equity as of September 20, 2024. The Company also announced that it has successfully filed its 2023 annual report on Form 10-K with the U.S. Securities and Exchange Commission. This financial turnaround was primarily achieved through the elimination of over $15 million in debt and interest, underscoring Smart for Life's commitment to building long-term value for shareholders. The Company’s leadership has been focused on
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